Word: servel
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...ownership of the rival Mexicana Telephone & Telegraph Co. The other 51% of Mexicana is owned by International Telephone & Telegraph Co. (see above). For that, Wenner-Gren agreed to pay I.T. & T. some $11 million, raised by selling other Swedish holdings and using U.S. dollars earned by his stock in Servel, Inc. (refrigerators) and Electrolux Corp. (vacuum cleaners...
Wealthiest Swede since Kreuger, Axel Wenner-Gren is a mysterious globetrotter, one of the last of the international capitalists. He built his fortune on wood pulp, aviation, munitions (Bofors), vacuum cleaners and refrigerators (Servel, Inc.). Since 1939 he has lived on Hog Island (near Nassau) on a magnificent estate called Shangri-La. He is an intimate of the Duke of Windsor. Two months ago he left Peru, where he had sponsored an archeological expedition, and arrived in Mexico, where he said he intended to "engage in economic activities...
...Axel Wenner-Gren claimed to control Servel, Inc., U.S. maker of Electrolux products, but last week the company said he had had no voice in its policies or management since 1937, held no stock in his own name...
...world. In a decade of confused and strident changes it dramatized episodes of mankind's disjointed hopes, disgusts and the comedy of the time. Always edited and produced by TIME, although at certain periods co-sponsored by Wrigley, Remington Rand and Servel (Electrolux), it developed a new radio technique since employed by many another radio program. The summer of 1939 ended it as it ended a decade...
Last week Servel directors asked their stockholders to approve a sale of 100,000 shares of stock to Mr. Wenner-Gren at $4.50 per share (the market price) together with a three-year option on another 100,000 shares at slightly higher prices. Mr. Wenner-Gren was to be made Servel's board chairman. Electrolux was apparently going home to Sweden. Wrote directors to Servel stockholders: "A point has been reached in the development of the corporation's business where the proposed arrangement with Mr. Wenner-Gren will be of great benefit. . . . In addition to the benefits...