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Wellman Group
The Wellman Group is a group of manufacturing companies that make boilers and advanced defence equipment. It is one of the main boilermakers in the UK, if not the most common for large-scale industrial applications, having taken over many well-known boiler companies. History The main company began as the Wellman Smith Owen Engineering Corporation, a large conglomerate British engineering company. It derived from an English company of Samuel T. Wellman, a steel industry pioneer. It was based at Parnell House on Wilton Road in London, next to London Victoria station. It supplied furnaces to the British steel industry. The site at Oldbury has been making boilers since 1862. In August 1965 it split in several subsidiaries, including Wellman Machines (at Darlaston), Wellman Incandescent Furnace Company (at Darlaston, Staffordshire), Wellman Steelworks Engineering, and Wellman Incandescent International. Wellman became a private company in December 1997, when bought by Alchemy P ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conglomerate (company)
A conglomerate () is a multi-industry company – i.e., a combination of multiple business entities operating in entirely different industries under one corporate group, usually involving a parent company and many subsidiaries. Conglomerates are often large and multinational. United States The conglomerate fad of the 1960s During the 1960s, the United States was caught up in a "conglomerate fad" which turned out to be a form of speculative mania. Due to a combination of low interest rates and a repeating bear-bull market, conglomerates were able to buy smaller companies in leveraged buyouts (sometimes at temporarily deflated values). Famous examples from the 1960s include Ling-Temco-Vought,. ITT Corporation, Litton Industries, Textron, and Teledyne. The trick was to look for acquisition targets with solid earnings and much lower price–earnings ratios than the acquirer. The conglomerate would make a tender offer to the target's shareholders at a princely premium to the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |