Word: kreuger
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...Ivan Kreuger's father had a small match factory which was not making money. Young Kreuger saw that a merger with other independents was the solution. In 1913 he put through the deal which created United Swedish Match Factories Co. and four years later this firm merged with the Vulcan group, eliminating competition in the home market. The next years were spent in pushing exports, building factories abroad, forming alliances with competitors. One of these alliances was a sales agreement with Diamond Match Co. to cover safety matches in the U. S. When in 1930 a U. S. tariff...
Another alliance was with Bryant & May, Britain's leading match house. Bryant & May and Swedish were always friendly but in 1927 they united their interests in the British Empire by formation of British Match Corp. in which Swedish was given a 30% interest. Match-man Kreuger at the time was so well entrenched in India that he could afford to exclude that vast market from the Bryant & May deal. Swedish Match operates chiefly through subsidiaries. Of these the most important is International Match, a U. S. corporation which holds the bulk of Swedish Match's foreign interests and earned...
Although by the early 1920's Swedish Match had a firm hold on the world's markets, Matchman Kreuger wished to make it impregnable. He saw an opportunity in the unsettled financial condition of most of the world, realizing that cash-poor nations would grant match monopolies in return for loans. The first loan was to Poland in 1925 and consisted of $6,000,000. Greece followed and then France offered a match monopoly for a loan of $75,000,000. This large financing was accomplished through the sale of $50.000,000 worth of International Match bonds...
...secured not by a direct monopoly but by an agreement to ban all Russian matches. Since Swedish makes a good 70% of all matches used in Germany the terms were satisfactory. Worry over the safety of this loan was known to be one of the things depressing Ivar Kreuger last week...
...company to the entirgroup was the original engineering and real estate firm of Kreuger & Toll, controlled by Class A voting shares capitalized at $50,000, the majority of which Ivar Kreuger held himself. This small amount of stock carried control of properties capitalized at over a billion dollars...