Word: kreugered
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Dates: during 1930-1939
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News of Ivar Kreuger's death was withheld by the Paris police until after the stockmarkets of the world had closed for the weekend. When it reached Sweden it caused something akin to panic. In London a "high Swedish authority" received a representative of the Times with a sad face. "Poor Kreuger," he said. "Creditors were closing...
...many were his creditors, how much they were owed will not be known for a long time. Ivar Kreuger's business life was known to only a handful of men. In making important transactions he usually revealed only part of the details to any one person. The main holdings of his companies are common knowledge, but it is certain that they also had many investments which have never been revealed. How much money he had, no one knew, not even himself. He said he did not care. Others said that next to Sir Basil Zaharoff he must have been...
Principal Kreuger company is Swedish Match?Svenska Tändsticks. It makes 66% of the world's matches, controlling 250 plants in 43 nations. In 1930 its earnings came to $13,000,000. This company's growth was due to Ivar Kreuger's efforts and its rise paralleled his own. Sweden's match industry began in the latter part of the 19th Century. Small factories sprang up all over the country. In 1903 a merger of many of the companies formed Vulcan Match Manufacturing Co. which began to force the smaller companies out. In 1907 Ivar Kreuger, then 27, arrived...
...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...