Word: sylvania
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...only because next to A. T. & T. any other corporation would look small. But General Telephone is a giant in its own right. Last week it planned to grow bigger. Its directors approved a deal, subject to stockholder approval on both sides, for General Telephone to take over Sylvania Electric Products Inc. on a share-for-share trade. The result: $1.5 billion in total assets, 76,000 employees...
...both companies the merger is a good deal. Sylvania has expanded some 17% in the last five years and has a $60 million backlog of defense orders for missile components and electronic systems. But it needs more capital. On its side, General Telephone needs a bigger base in the electronics field, anticipating the day when telephone service will dispense with some land lines and electromechanical switching equipment, take to radio and other electronic equipment. In April 1957 the companies reached the "getting to know you" stage when General Telephone President Donald C. Power, 58, went on Sylvania's board...
...Sylvania Electric...
...Sylvania Electric...
Industry's top executives are learning dozens of ways to improve operations. Sylvania Electric Products Inc. was poking along with one of its lighting products because several companies were all scrambling for the same market. Then President Don G. Mitchell decided to mechanize his operation; he cut costs and hiked production so successfully that he ran way out ahead of his competition. Says he: "What we did was spend a little more money in bad times, and we won 60% of the market where we had only 15% before." To stay competitive in its auto-supply business, Detroit...