mead paper company family
Following these moves, Mead had three core areas of operation: paper (primarily coated paper, a sector with more growth potential than uncoated paper), packaging and paperboard, and distribution and school/office supplies. Mead Pulp and Paper made its first public stock offering in 1906. Mead retained substantially diverse operations, including furniture factories, foundries, and Alabama coal mines. Mead began to diversify its product lines in the 1920s as it started to manufacture paperboard. The suit charged the defendants with price fixing and with attempting to push smaller makers out of the market by buying independent box makers and opening operations where they would compete with smaller businesses. 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. For example, lower-grade tablet paper and low-volume colored envelope interests were eliminated. 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. Metal products contributed 11 percent and furniture five percent, while about 20 percent was derived from sundry jointly owned forest products operations. George, then about to leave his post at the General Artificial Silk Company in Philadelphia, accepted the opportunity to rejuvenate the family company. In 1921 the Mead Sales Company was established as a separate corporation to sell white paper produced by Mead mills and other U.S. and Canadian mills. A national recession during the 1980s caused the company to sell off many of its affiliated industries, including Gulf Consolidated Services and much of the Woodward Company. Despite the fact that Mead had left a thriving business, Mead Paper soon fell on hard times, owing largely to personal overdrafts by family members amounting to more than $200,000, as well as to the substantial salaries drawn by Harry and Charles Mead and Charles's travel expense and cash accounts, which in 1900 amounted to $13,800. LEXIS accounted for an estimated $215 million of MDC's $307.6 million revenues. The Mead Corporation began as Ellis, Chafflin & Company. Mead also sold its share of the Brunswick pulp and paper mill in August of 1988 and sold its recycled products business to Rock-Tenn Company in 1988. Mead® is part of the ACCO Brands Family of industry-leading planning solutions. The mill also brought with it 667,000 acres of woodlands, which increased Mead's timber holdings to 2.1 million acres in eight states, a 65 percent increase over 1992 holdings. This company became Mead and Weston in 1860, then Mead and Nixon in 1866. In mid-1992 Mason announced the start of a three-year performance-improvement plan that aimed to increase both productivity and customer satisfaction. Mead also distributes paper and packaging and is a leading maker and distributor of school supplies in the United States and Canada. In the same year, Mead purchased a small white-paper mill from the Escanaba Paper Company in Michigan's upper peninsula. *Check to receive news of the latest drops, exclusive deals, and more! The plant began white paper production in 1923 and became a central Mead factory. The suit was one of the largest price fixing lawsuits in U.S. legal history. We see them around but we don't know what goes on behind the scenes. The paper markets, however, were fairly mature, and growth had to be sought elsewhere. In 1856 Mead bought out his original partners with a friend from … The company primarily manufactured paper and continued to participate in the electronic storage industry. In 1971 the Escanaba mill was operating at a loss despite a $15 million investment in upgrading the plant. By year-end 1996 Mead had successfully hit this target, as it had achieved an overall productivity gain of 12 percent since 1992. As part of the plan, Mead laid off about 1,000 employees, setting up a $95 million special reserve for such expenses as severance pay, retraining, relocation, counseling, and outplacement. Source: International Directory of Company Histories, Vol. Its well-defined postwar plan allotted $23 million for plant expansion. Mead®, Day-Timer®, Day Runner® and AT-A-GLANCE® products help busy people plan and organize their lives. The firm originally manufactured paper, but the company dramatically expanded its product line during the twentieth century. In 1979 Mead ranked fourth among forest products companies and hit its all-time earnings peak of $5.19 a share while fending off an unwanted takeover by Occidental Petroleum Corporation. Mead firmly entrenched itself in paperboard-making through its joint projects with Inland Container Corporation. George Mead had been reducing the number of different types of paper made at Mead since his entry in 1905, when the company produced 15 different grades of paper. Mead managers sold more than $80 million of interests in low-growth markets between 1973 and 1976. 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. As a result of its flagging profits, Mead began to sell off some of the acquisitions it had made only a few years earlier. This firm became the nucleus of Mead's containerboard division. The companies first collaborated in 1946 to found the Macon Kraft Company to build and operate a paperboard mill in Macon, Georgia. In 1988, to enhance the scope of its service to attorneys, paralegals, and the court, MDC purchased The Michie Company, a legal publisher based in Charlottesville, Virginia, publishing statutes from 24 states in printed form. Mead saw a rapid succession of presidents after Fergusen, who in 1948 became chairman of the board and handed the presidency on to Charles R. Van de Carr, Jr. Development of this product was costly, and it diminished Mead's earnings from 1986 to 1990. W. Wheelwright Company in 1934. MDC made these statutes searchable electronically through the LEXIS service and developed compact disc products combining case law and statutes. The other defendants had settled out of court prior to the civil suit, and Mead was left with a potential liability of $750 million. https://ohiohistorycentral.org/index.php?title=Mead_Corporation&oldid=33011. Mead offers notebooks, binders, folders, planners and all the supplies you need for students, teachers, businesses and more! Mead in turn filed its own antitrust suit against West. It was widely regarded as the leading linerboard mill in the country and by 1940 was making $1 million a year before taxes. The year 1955 marked the beginning of a new period of growth for Mead, as the company diversified beyond its traditional paper products. In 1918 the Management Engineering and Development Company was established in Dayton as a separate firm to supervise engineering of new Mead plants and to market Mead's engineering services to other paper companies. Mead's aggressive expansion of its wholesale force provoked a 1968 suit by the Justice Department. Although Mead had continued production at a breakneck pace to meet domestic and overseas container and paper requirements, wartime price and profit controls, as well as raw material shortages, stunted the company's growth. 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. (France); Mead Verpackung G.m.b.H. During the 1970s, the Mead Corporation also spent 1.5 billion dollars to modernize its various plants, allowing the firm to dramatically increase production. The Mead Corporation is one of the world's largest manufacturers of paper (producing more than 1.7 million tons each year) pulp, and lumber. The specially coated paper contained a chemical that, like an instant film, performs the reproduction internally, eliminating the complex machinery formerly needed to create color photocopies. Mason's various initiatives as chairman and CEO clearly had born fruit. George Mead's business philosophy would influence the company substantially during his 43-year tenure. The case was settled in 1988 with a licensing agreement permitting MDC to offer West-copyrighted material via the LEXIS service. In 1916 Mead purchased a share in the Kingsport Pulp Corporation of Kingsport, Tennessee, and in 1917 it acquired full control of the Peerless Paper Company of Dayton. In the years after Mead's death, the management of the company passed to his sons, Charles and Harry, who became president and vice-president, respectively. Unveiled in 1973, LEXIS took in about 75 percent of the computerized legal research market by the late 1980s. A 1957 acquisition, the Atlanta Paper Company, led Mead into the packaging business and was the forerunner of Mead's packaging division, which invented the familiar paper six-pack carrier for bottled beverages and became the largest supplier of paperboard beverage packaging in the world. Mead lost an estimated $85 million in sales owing to strikes at several pulp and paper mills. In 1988 LEXIS was responsible for MDC's 33 percent growth. The Mead Corporation was incorporated on February 17, 1930, and George Mead was appointed president. 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. Soon the Port St. Joe facility was yielding 300 tons of pulp and 300 tons of linerboard daily. 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. By 1975, however, sales and profits were on the upturn. All Rights Reserved. The economic recession of 1907 and the tremendous cost of moving almost destroyed Mead once again, but the sale of the Dayton property saved the company. In 1952 Howard E. Whittaker became president, and five years later he was replaced by Donald R. Morris. The Manistique plant was sold in the early 1950s, and the Virginia company was consolidated with the Wheelwright plant in 1946. In 1935 Mead's common and preferred stock were listed on the New York Stock Exchange. Then its business emphasis in paper products shifted from production to marketing. Another $45 million investment went into the plant the following year, but profitability continued to elude the operation. (Germany); Aviocart S.p.A. (Italy); Mead Packaging Korea, Inc.; Productros para Escuela y Oficina, S.A. de C.V. (Mexico); Mead Holdings B.V. (Netherlands); Mead Coated Board Europe B.V. (Netherlands); Mead Verpakking B.V. (Netherlands); Mead Packboard B.V. (Netherlands); Mead Sistemas Embalaje S.A. (Spain); Mead Management Services S.A. (Switzerland); Mead Packaging Ltd. (U.K.). Among the factors responsible were a drastic decrease in demand for lumber products and the costly settlement of the box suit. Mead and the FTC settled in 1965 when Mead signed a consent decree, agreeing to sell off seven of its plants over five years and place a ten-year moratorium on paperboard acquisitions. Combined losses for 1901 and 1902 added up to more than $36,000, and banks began calling in the company's loans. Mead entered the container business in 1955 and 1956 with the acquisition of Jackson Box Company of Cincinnati, Ohio. In 1945 Mead's assets had risen only $2.1 million from a prewar figure of $37 million. A year later operations were consolidated at the Chillicothe mill, costing the company more than $32,000. learn how over 7,000 companies got started! In 1938 Mead entered two joint ventures in an effort to reduce its dependence on imported pulp and to enter the kraft linerboard business. 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.
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