Squibb Corporation

The Squibb Corporation was founded in 1858 by Edward Robinson Squibb, a US chemist and Navy medical officer. In 1892 Squibb created a partnership with his two sons, Dr. Edward H. Squibb and Charles F. Squibb, the firm being known for generations afterwards as E. R. Squibb and Sons.

E. R. Squibb and Sons

E.R Squibb and Sins had been a manufacturer of various vitamin products, but the main focus of its consumer advertising was its toothpaste and tooth-powder products.

In 1944 Squibb opened the world’s largest penicillin manufacturing plant. In 1953, Squibb Corporation was acquired by the conglomerate Olin Mathieson Chemical Corporation. When Olin spun the division off in 1968, its manger Richard Furland became the head of the independent Squibb Corporation.

Furland transformed Squibb and placed it solidly on the prescription drug path, not by acquisition but by reinforcing internally its technical and functional capacities.

The merger between Bristol-Myers and Squibb Corporation took place in 1989. The merger created Bristol-Myers Squibb Company, which was then the world’s second-largest pharmaceutical enterprise.
Squibb Corporation

History of Liquid Paper

Bette Nesmith Graham of Dallas (1924-1980) learned to type after leaving school, and some years later, while working as a secretary at a bank in Texas, she observed sign writers panting over mistakes. She hated making mistakes on the new electric typewriters that came out in the early 1950.

In 1951 Bette started mixing water-based paints in her kitchen using blender to match the paper and used a watercolor brush at the office to cover problems.

She worked to make the fluid faster drying. Soon every secretary in the building wanted a bottle of ‘Mistake Out’.

Failing to sell the formula to IBM, she began distributing it through her own business. In 1956, her Mistake Out Company was launched, and Bette and her husband, Bob devoted themselves to it full-time.

Sales were slow until an office supply magazine touted her product; General Electric placed the first big order.

By 1977, five hundred bottles of Liquid Paper were selling around the world every minute. In 1979, the Gillette Corporation purchased the rights to Liquid Paper reportedly for a handsome $47.5 million. Liquid Paper now owned by Newel Rubbermaid
History of Liquid Paper

China National Petroleum Corporation

In 17 September 1988, China National Petroleum and Natural Gas Corporation (CNPC) was established.

The influence of the petroleum industry within the communist government varied significantly over time.

In the early years after establishment of the People’s Republic of China, the industry was under control of the Bureau of Petroleum, a division of the Ministry of Fuel.

In 1955, Ministry of the Fuel was promoted to the Ministry of the Petroleum Industry after merged with Ministry of Coal and Ministry of the Chemistry Industry.

Ministry of Petroleum Industry controlled the production of oil, and the refining was split among the ministry and a number of government bodies.

In 7 July 1998, the Ministry of the Petroleum Industry was dissolved and formed three state-owned companies to oversee and modernize its petroleum-related activities.

This reorganization created two regional firms –CNPC in the north and west, and Sinopec in the south. CNPC took over all onshore exploration and production of oil and gas.  The company is directly under the State Council and is a ministry-level institution.

In June 1997, CNPC acquired a 60 percent share in Kazakhstan’s Aktyubinskmunaigaz Production Association, which controls three large oil fields in northwestern Kazakhstan with combined recoverable reserves of 1 bb.
China National Petroleum Corporation

Sinopec Group

China Petrochemical Corporation (Sinopec), the largest state-owned enterprises in China, is the assets of Ministry of Petroleum and the Ministry of Chemical Industry.

By 2014 Sinopec had grown to become the third largest multinational corporations in the world measured by revenue and ranked in the Fortune Global 500 list.

Reports say Sinopec, also called China Petroleum & Chemical, is getting about 50,000 barrels a day. The goal is focused on continued growth, too: to get to 135,000 barrels per day.

Sinopec dates back to the Soviet-style state ministry monopolies of the 1950s, the Ministry of Petroleum Industry and Ministry of Chemical Industry.

Sinopec was established as The China National Petrochemical Corporation in 1983 to build and operate China’s refining capacity downstream and petrochemical production. Sinopec took over 90% of China’s refinery from various government ministries and local government.

Sinopec Corp was established in February 200o, with Sinopec as its sole shareholder before the overseas stock listing in October 2000. Sinopec Corp took the main usp0tstrem, refining, and petrochemical business form the parent company Sinopec.

Sinopec was the first Chinese oil company to undertake (partnership with BP) deep-water exploration off Angola and is exploring for gas in Saudi Arabia.

In 2009 Sinopec’s acquired Swiss-based oil exploration company Addax Petroleum for $8.27 billion Canadian dollars was the largest cross border takeover of a foreign firm by a Chinese company.

Addax is one of the world’s largest independent oil producers in West Africa and the Middle East on the basis of volume.
Sinopec Group

History of IKEA

An entrepreneur from Småland, Ingvar Kamprad is the founder of Swedish furniture retailer Ikea, a company focused on low cost but serviceable items.

IKEA is a large multinational corporation that sells house wares and furniture. The company operates about 349 stores in 43 countries with sales of about €28.5 billion in 2013 to 500 million customers.

The name is derived from the first letters of four words: Ingvar Kamprad Elmtaryd Agunnaryd. Elmtaryd is the name of the farm in which Ingvar Kamprad was raise and Agunnaryd is the name of the village in which the farm was located.

In Småland, although the soil is thin and poor the people have a reputation for working hard, living frugally and making the most out of limited resource.

So when Ingvar started his furniture business in the late 1940s, he applied the lessons he learned in Småland to the home furnishings market. In 1945, two years after starting IKEA, Ingvar began advertising his business in local papers and using milk trucks to help deliver his goods.

The trucks could not only deliver to homes, but also the local train station.

The price war going on between mail-order furniture companies ate away at profit margins. With the pressure, Ingvar decided to open a furniture showroom in Almhult in 1953 to give customers the ability to see and experience furniture prior to ordering.

In 1952, the first IKEA catalogue entirely devoted to furniture was issued. By 1953, one of Ingvar’s associates, Gillis Lundgren, had an idea of distributing furniture in kit form, in flat boxes, which permitted a large decrease in shipping costs.

In 1965 IKEA opened a big new store in Stockholm and on the first day the sales went crazy. So the store manger opened up the warehouse and allowed customers to come in and find their own item, and the rest is history.

In 1973, the first store outside Scandinavia was opened outside Zurich, Switzerland.  Its success paved the way for a rapid expansion in Germany, which is the largest IKEA market today.
History of IKEA

History of Lockheed Martin

The history of the Lockheed Corporation begins with the two Loughead brothers, Allan and Malcolm, who started flying in 1913. Their father, John was a hardware store owner and truck farmer and their mother, Flora was a writer.

The brother became interested in aviation when their brother Victor who worked with automobile distribution company wrote a book about flying. They setup their own company, the Loughead Aircraft Manufacturing Company in Santa Barbara, California in 1916, working with Jack Northrop and others.

The company was soon renamed Lockheed in 1934 to avoid mispronunciation.

In 1932, a group of young men, headed by Robert E. Gross acquired the company.

The first model 10 Electra took off in 1934, and so did the company. For next 15 years civilian and military aircraft pouted off the assembly line with more than 20,000 Lockheed planes built for World War II.

During the second half of the 20th century, Lockheed continued to pioneer new advancements in aircraft and defense systems technologies.

Lockheed Martin was officially formed on 16 March 1995 by merging between Lockheed Corporation and Martin-Mariette. It is headquartered in Bethesda, Maryland.

The new corporation emerges with strong product lines in the field of aeronautics and aerospace and has become the sole major competitor to the other giant of US aerospace, the Boeing Company.

On April 22, 1996, Lockheed Martin completed the acquisition of Loral Corporation’s defense electronics and system integration businesses for $9.1 billion, the deal having been announced in January.

The wars in Iraq and Afghanistan have boosts in Lockheed Martin’s sales, due to major spending on Patriot missiles and other combat-related systems.
History of Lockheed Martin

Procter and Gamble Company

On 12 April 1837 William Procter and James Gamble produced and sold soap and candles.

William Procter was an English storekeeper and candle maker. James A. Gamble an Irish soap maker. Both men had apprenticed in their respective trades made the way separately to Cincinnati and settled in to begin business.

They married sisters – Olivia and Elizabeth Ann Norris. During sharp economic downturn in 1837, their father in law, Alexander Norris, suggested that the two entrepreneurs unite their operation.

The company grew steadily as the two men made good use of the nation’s rivers and developing railway system to transport good place to place.

By 1859, they were selling $1 million worth of products. Procter and Gamble was the leading supplier of soap and candles to Union troops during the US Civil War (1861-1865).

In 1860, realizing that a war was imminent, Procter and Gamble sent William and James Norris Gamble, his cousin to New Orleans to purchase a large supply of rosin, which as necessary for making soap.

When the Civil War erupted several months later, Procter and Gamble had more suppliers that their competitors for making soap.

In 1886 Procter and Gamble started production at the Ivorydale factory a facility recognized for its progressive approach towards creating a pleasant work environment for its employee.

Procter and Gamble continued to expand its product lines. Its Head and Shoulders became one of the world’s leading antidandruff shampoos.

Procter and Gamble turned to radio advertising early in the 1920s. Camay soap was the first Procter and Gamble product to be advertised on network radio.

In 1930 Procter and Gamble established its first overseas subsidiary in England and it built a manufacturing company in the Philippines in 1935.

During the 1980s and 1990s, Procter and Gamble acquired Max Factor and Noxell, two beauty products companies that produces for use on hair, eyebrows, and eyelashes.
Procter and Gamble Company

Formation of American Tobacco Company

There were 119 tobacco factories in Virginia and North Carolina in 1840 and 348 in 1860.

On returning to his North Carolina farm from a Union prisoner-of-war-camp, Washington Duke built a company around the sale of tobacco products.

In 1880 the twenty-four-year old James Buchanan Duke was running Duke Sons and Company. By 1888 the firm of was producing 744 million cigarettes per year.

Americans adoption of the cigarette led to the proliferation of tobacco firms, and eventually the five leading producers of 1890 combined as the American Tobacco Company with Duke at the head.

By 1898 American Tobacco was selling almost 4 billion cigarettes per year and controlled virtually the entire cigarette industry in the United States.

At first, the American Tobacco Company had dabbled only in cheroots and other small cigars, but in 1901 it decided to move into the cigar business.

American Tobacco Company dominated the industry by acquiring the Lucky Strike Company and over 200 other rival firms.

By 1910 American Tobacco Company possessed 86 percent of the cigarette market, 85 percent of the plug market, 79 percent of the pipe tobacco market and 14 percent of the cigar market in the United States. 

Eventually, American Tobacco’s control over the American market led to its dissolution at the hands of the Justice Department of the federal government. The court order breakup of the American Tobacco Company in 1911 changed the industry from a monopoly to a oligopoly.

The company broke into several major companies: American Tobacco Company, R.J Reynolds, Liggett & Myers Tobacco Company, and Lorillard.

In 1969 American Brands became the parent company of American Tobacco Company.
Formation of American Tobacco Company

History of Mitsubishi

History of Mitsubishi
The first Mitsubishi Company was a shipping firm established by Yataro Iwasaki (1834–1885) in 1870. In 1873, its name was changed to Mitsubishi Shokai.

The company bought into coal mining in 1881 by acquiring the Takashima mine and Hashima Island in 1890, using the produce to fuel their extensive steamship fleet.

They also diversified into shipbuilding, banking, insurance, warehousing, and trade. Later diversification carried the organization into such sectors as paper, steel, glass, electrical equipment, aircraft, oil, and real estate.

During the Second World War, Mitsubishi manufactured aircraft, under the direction of Jiro Horikoshi. The Mitsubishi Zero was a primary Japanese naval fighter in World War II.

As well as building prominent fighters, Mitsubishi also built many of Japan's most famous bombers of the war, such as the G3M, the G4M, the Ki-21, and the Ki-67.

During the 1930s, Mitsubishi had also built the single-engine Ki-35.

At the end of the Second World War Japans large industrial groups were dismantled by order of the Allied powers and Mitsubishi Heavy Industries was split into three regional companies, each with an involvement in motor vehicle development.

By the beginning of the 1960s, Japans economy was gearing up: wages were rising and the idea of family motoring was taking off.

It was decided that the company should create a single operation to focus on the automotive industry and, in 1970 the Mitsubishi Motors Corporation (MMC) was formed.

In 1970, the company signed an LNG purchase and sale agreement in Brunei, marking the start of the global development of an investment-based business model transcending simple trading company activities.

Together with its over 500 group companies, Mitsubishi employs a multinational workforce of approximately 54,000 people. Mitsubishi has long been engaged in business with customers around the world in many industries, including energy, metals, machinery, chemicals, food and general merchandise.
History of Mitsubishi

McDonald

In 1937, the MacDonald brothers opened their first restaurant (the Airdrome) in Arcadia, California selling hot dogs, orange juice, coffee and tea.

In 1940, barbeque restaurant opened by siblings Dick and Mac McDonald in San Bernardino, California.

Their introduction of the "Speedee Service System" in 1948 established the principles of the modern fast-food restaurant. It’s selling 15 cent hamburgers and 10cent fries.

The present corporation dates its founding to the opening of a franchised restaurant by Ray Kroc, in Des Plaines, Illinois on April 15, 1955, the ninth McDonald's restaurant overall.

Kroc later purchased the McDonald brothers' equity in the company and led its worldwide expansion.

Ray Kroc mortgaged his home and invested his entire life savings to become the exclusive distributor of a five-spindled milk shake maker called the Multimixer.

Hearing about the McDonald's hamburger stand in California running eight Multimixers at a time, he packed up his car and headed west. It was 1954. He was 52 years old. Ray Kroc opened the Des Plaines restaurant in 1955.

First day's revenues was $366.12. No longer is a function restaurant, the Des Plaines building now a museum containing McDonald's memorabilia and artifacts, including the Multimixer.
McDonald