Tyco: a Conglomerate Under the Microscope
Running head: Tyco: A conglomerate under the microscope
Tyco: A conglomerate under the microscope In 1960, Arthur Rosenburg founded Tyco when he opened a laboratory to do experimental work the United States government. It wasn’t until 1962, Rosenburg incorporated the business as Tyco Laboratories. The company’s focus was on energy conservation products and tech materials science for commercial use. In September 1964 Tyco went public and began its acquisition of other companies to enlarge its development and distribution network. Over the 22 years Tyco grew substantially through key acquisitions and growing diversity within the corporation. Some key acquisitions included:
• 1974: Simplex Technologies, manufacturers of undersea fiber optic telecommunications cable
• 1976: Grinnell Fire Protection Systems, manufacturers of and contractors for fire sprinkler systems
• 1979: Armin Plastics, manufacturers of polyethylene film products
• 1981: Ludlow Corporation, manufacturers of packaging products.
The addition of these companies, a total equity of $49 million, $500 million in total sales, and a net worth $140 million pushed Tyco into the spotlight as a major conglomerate. All of the accomplishments and growth of Tyco can be contributed aggressive management by Roseburg and all executives who followed in his footsteps. Tyco is comprised four business units: Electrical and Electronic Components, Healthcare and Specialty Products, Fire and Security Services, and Flow Control. The Company 's name was changed from Tyco Laboratories, Inc. to Tyco International Ltd. in 1993, to reflect Tyco 's global presence. In 1997, after the merger with ADT, Tyco moved its incorporation from Massachusetts to Bermuda. Over the last two decades Tyco has seen an impressive rise, booming business, devastating scandal, and complete resurrection of the organization. The company’s ethics have been under fire due to staggering legal setbacks. Fortunately, Tyco has been able
Tyco: A conglomerate under the microscope In 1960, Arthur Rosenburg founded Tyco when he opened a laboratory to do experimental work the United States government. It wasn’t until 1962, Rosenburg incorporated the business as Tyco Laboratories. The company’s focus was on energy conservation products and tech materials science for commercial use. In September 1964 Tyco went public and began its acquisition of other companies to enlarge its development and distribution network. Over the 22 years Tyco grew substantially through key acquisitions and growing diversity within the corporation. Some key acquisitions included:
• 1974: Simplex Technologies, manufacturers of undersea fiber optic telecommunications cable
• 1976: Grinnell Fire Protection Systems, manufacturers of and contractors for fire sprinkler systems
• 1979: Armin Plastics, manufacturers of polyethylene film products
• 1981: Ludlow Corporation, manufacturers of packaging products.
The addition of these companies, a total equity of $49 million, $500 million in total sales, and a net worth $140 million pushed Tyco into the spotlight as a major conglomerate. All of the accomplishments and growth of Tyco can be contributed aggressive management by Roseburg and all executives who followed in his footsteps. Tyco is comprised four business units: Electrical and Electronic Components, Healthcare and Specialty Products, Fire and Security Services, and Flow Control. The Company 's name was changed from Tyco Laboratories, Inc. to Tyco International Ltd. in 1993, to reflect Tyco 's global presence. In 1997, after the merger with ADT, Tyco moved its incorporation from Massachusetts to Bermuda. Over the last two decades Tyco has seen an impressive rise, booming business, devastating scandal, and complete resurrection of the organization. The company’s ethics have been under fire due to staggering legal setbacks. Fortunately, Tyco has been able
References: CBS News(2002, Sept. 17). Tyco details corporate wrongdoing, says it found pattern of improper and illegal activity by ex http://www.cbsnews.com/stories/2002/09/18/national/main522359.shtml . Norris, F (2007, May, 16) York Times, Retrieved April 28, 2008, from http://www.nytimes.com/2007/05/16/business/16tyco.html?_r=1&oref=slogin Symonds, W (2006, January, 13) April 28, 2008, from http://www.businessweek.com/bwdaily/dnflash/jan2006/nf20060113_1818_db035.html U.S detection systems. Retrieved April 24, 2008, from Consumer Product Safety Commission Web site: http://www.cpsc.gov/cpscpub/prerel/prhtml06/06551.html