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Married. Beatrice Sigrist. 58, widow of Hawker Aircraft Ltd.'s Founder Frederick Sigrist, mother of the jet set's nearly supersonic Bobo Sigrist; and Sir Berkeley Ormerod, 64, retired public relations chief of the British Information Services in the U.S.; she for the third time, he for the first; in London...
Five years ago Toronto's Massey-Ferguson Ltd. was on the brink of bankruptcy. Dragged down by unwieldy inventories and a slumbering dealer network, the 115-year-old implement manufacturer in 1957 lost $4,700,000 on $400 million worth of sales in five continents. This week Massey-Ferguson will happily report on its performance for the first half of fiscal 1962. With business up 15%, the company is expected to show sales of about $263 million and profits well above last year's first half net of $6,000,000. The secret of this rejuvenation: a change...
What saved the firm was the intervention in 1956 of Argus Corp. Ltd.. an aggressive Canadian investment trust. Argus, after getting a controlling interest in the company, put in as president Albert A. Thornbrough. a onetime farm boy from Kansas who was one of the assets Massey acquired when it merged with British Inventor Harry Ferguson's tractor company in 1953. Thornbrough promptly set the company on a new course. North American farms, he reasoned, were now so heavily mechanized that they must be considered a "mature" market. The real growth opportunity lay in the rest...
...Design. Massey already had a global network of distributors and assembly plants. But Thornbrough thought that M-F could make more money and keep better control of its product if it built its own manufacturing organizations around the world. In 1959 M-F took over Perkins. Ltd. of Peterborough, England, a company from which it had been buying 160,000 diesel engines a year. It quickly followed that with the purchase of the Standard Motor Co's tractor factories, in Coventry. England, and in France, then expanded into Italy, South Africa. India and Brazil. Today the company operates...
Shooting for the parent trade, Nestlé in 1947 bought Maggi, a Swiss company with a $100 million-a-year line of soups and seasonings. In 1960, Nestlé's bosses laid out another $27 million for England's venerable Crosse & Blackwell Ltd., with its 26 soups, preserves, pickles and puddings. Last year the company picked up Italy's Locatelli, which produces cheese, tomato products and meats. Today, Nestlé markets everything from soup to nuts, has 75,000 employees and 180 factories in 34 countries. With annual sales of $1.5 billion, it is the world...