mead paper company family
The specialty paper division, which produced papers for filters and insulation, was started with the purchase of Hurlburt Paper Company of South Lee, Massachusetts in 1957. Mead's paperboard capacity was also increased through the 1996 completion of a 225,000 ton-per-year, $176 million corrugating medium machine at the Stevenson mill. Mead's management anticipated a boom in family spending and homebuilding and bought companies that would benefit from such a boom. https://ohiohistorycentral.org/index.php?title=Mead_Corporation&oldid=33011. During the first decade of its existence, Mead Paper Company averaged annual profits of $22,000, peaking at nearly $50,000 in 1891, the year of Mead's death. Another component of the plan called for overall productivity increases of three percent per year, which would lead to annual savings of about $60 million. Principal Subsidiaries: Escanaba Paper Co.; Forest Kraft Company; LCC Holding Company; M-B Pulp Company; Mead Coated Board Intl., Inc.; Mead European Holdings, Inc.; Mead Export, Inc.; Mead Foreign Holdings, Inc.; Mead International Holdings, Inc.; Mead Packaging International, Inc.; Mead Panelboard, Inc.; Mead Realty Group, Inc.; Mead Reco, Inc.; Mead SA, Inc.; Mead Supplyco, Inc.; Mead Timber Co.; Pulp Asia Limited; Zephyer Properties, Inc.; Mead Packaging Proprietary Ltd. (Australia); Bermead Insurance Company Ltd. (Bermuda); Mead Packaging (Canada) Ltd.; Mead Holdings S.A. (France); Mead-Emballage S.A. (France; 99.53%); Mead Europe Engineering, S.A.R.L.
All rights reserved. During the 1950s, and with the 1968 allocation of $50 million for the expansion of the Escanaba mill, Mead had spent in excess of $400 million on maintaining and improving its papermaking facilities. Mead intended to launch another linerboard mill immediately, but World War II halted this plan. Each of these companies had established names and well-developed distribution systems. Five Star® and Trapper Keeper® products give students the high-quality … Two major purchases were Dill & Collins in 1932 and Geo. *Check to receive news of the latest drops, exclusive deals, and more! With the retirement of Chairman Howard E. Whitaker and President George H. Pringle in 1968, the new president, James W. McSwiney, began to acquire businesses that were unrelated to papermaking. Mead's corrugated-paper business was concentrated in Stevenson, Alabama in 1975. As a result of its flagging profits, Mead began to sell off some of the acquisitions it had made only a few years earlier. That same year the company announced a second phase to the capital upgrades at this mill, whereby the new machine's output would increase to 390,000 tons annually when virgin pulp-making capability, a wood fuel boiler, and additional dryers were added by 1999. The plant began white paper production in 1923 and became a central Mead factory. Eventually the Escanaba mill would become one of Mead's largest operations. The system's success was enough to spark its own court battle with West Publishing Company, which claimed that MDC intended to infringe on its copyrights by distributing its information with West's pagination. MDC's other products included NEXIS, which distributed newspaper and magazine reprints.
The Mead Corporation began as Ellis, Chafflin & Company. Mead's acquisition of an educational products supplier in 1966 was followed in 1968 by the purchase of Woodward Corporation, a maker of pipe and pipe fittings, castings, and chemicals and of Data Corporation, which produced computer software. Mead Data Central Inc. (MDC), the subsidiary whose primary product was LEXIS, a service that made case law and statutes available through online computer searches, had been growing at a rate of 43 percent a year. Among the factors responsible were a drastic decrease in demand for lumber products and the costly settlement of the box suit. The other defendants had settled out of court prior to the civil suit, and Mead was left with a potential liability of $750 million. In 1988 LEXIS was responsible for MDC's 33 percent growth.
In 1873 Daniel Mead spearheaded a reorganization of the firm as the Mead & Nixon Paper Company, and in 1881 Mead bought out Nixon, establishing the Mead Paper Company in 1882. In 1856 Mead bought out his original partners with a friend from Philadelphia, Pennsylvania, forming Weston and Mead. In 1958, the firm purchased Data Corporation. The company primarily manufactured paper and continued to participate in the electronic storage industry.
These rationalization moves were important, but Mead's revenues were flat from 1988 through 1992 and net earnings fell from a record $352.7 million in 1988 to $38.5 million in 1990, $6.9 million in 1991, and $71.6 million in 1992. Mead Data Control improved the Data Corporations services and also developed new programs such as Lexis and Nexus, two services that allow users to search legal precedents and newspaper and magazine articles. Mead agreed in 1970 to sell off within two years 22 of the outlets operated by Chatfield & Woods Company, acquired in 1961, and Cleveland Paper Company. The paper markets, however, were fairly mature, and growth had to be sought elsewhere. (France); Mead Reassurance S.A. (France); Mead Packaging Europe, s.a.r.l. As Mead Paper Company teetered on the brink of total collapse in 1905, the banker-trustees turned to George Mead, Harry Mead's independent and business-minded son, requesting that he take over the helm at Mead. Overall, from 1992 to 1996 Mead was able to reduce its debt-to-capital ratio from 47 percent to 36 percent. The largest divestment, however, came in December 1994 when the company sold Mead Data Central to Anglo-Dutch publishing giant Reed Elsevier for $1.5 billion, taking Mead out of the electronic publishing business.
Mead was found not guilty in a 1979 criminal trial, but a jury found the company guilty in a civil class-action suit of 1980. MeadWestvaco was formed in January 2002 as the result of a merger between The Mead Corporation of Dayton, Ohio, and Westvaco (originally the Piedmont Pulp and Paper Company and then the West Virginia Pulp and Paper Company). The Mead family is purported to have left from Lydd, Kent County, England aboard the ship “The Elizabeth,” believed to be in the company of Pastor Richard Denton and his Watford entourage, in April of 1635. Meanwhile, company shareholders were kept happy through repurchases of 8.7 million shares valued at $459 million.
Mead® is part of the ACCO Brands Family of industry-leading planning solutions. A third-generation Mead employee with 35 years at the company, Mason moved quickly and boldly to turn Mead around.
During the 1970s, the Mead Corporation also spent 1.5 billion dollars to modernize its various plants, allowing the firm to dramatically increase production. In 1935 Mead's common and preferred stock were listed on the New York Stock Exchange. Mead®, Day-Timer®, Day Runner® and AT-A-GLANCE® products help busy people plan and organize their lives. The company subsumed the operations of the Mead Pulp and Paper Company, The Mead Paperboard Corporation, and the Management Engineering and Development Company, although the separate legal existence of these organizations continued for some years. By the time of Daniel Mead's death in 1891, the Mead Corporation was one of the largest paper producers in the United States, with paper mills in Kingsport, Tennessee, Brunswick, Georgia, and Escanaba, Michigan, as well as several plants in Ohio. Mead in turn filed its own antitrust suit against West. Most important was the restructuring of its paperboard operations to focus on the production of coated board. While developing these nonpaper interests, Mead also undertook some rationalization of its traditional sectors. In mid-1992 Mason announced the start of a three-year performance-improvement plan that aimed to increase both productivity and customer satisfaction. Another $45 million investment went into the plant the following year, but profitability continued to elude the operation. Mason's various initiatives as chairman and CEO clearly had born fruit. Mead entered the container business in 1955 and 1956 with the acquisition of Jackson Box Company of Cincinnati, Ohio.
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