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Winn Makes Debut in Fortune 500 : Acquisition of Knudsen Places Fullerton Firm at No. 481

April 18, 1985|CARLA LAZZARESCHI | Times Staff Writer

Under different circumstances, champagne corks might have popped. But by the time Ted Nelson, chairman and chief executive of Winn Enterprises in Fullerton, learned this week that his firm had broken into Fortune magazine's listing of the country's 500 largest industrial companies in 1984, the news was rather anticlimactic.

After all, Nelson, 36, explained Wednesday, Winn bought Knudsen Foods Inc., a former member of the venerable list, in June, 1983, and has patiently waited since for the magazine to digest the purchase and pay the appropriate tribute.

"It was only natural that we would be included at some point," said Nelson, whose firm also owns a savings and loan association and recently acquired Foremost Dairies Inc.

Winn, which made its debut as No. 481 on the list in the latest issue, is one of three Orange County-based companies to make the annual list. The other two are oil service machinery manufacturers Baker International Corp. in Orange, in the No. 199 spot, and Smith International Inc. in Newport Beach, No. 365.

For the Record
Los Angeles Times Friday April 19, 1985 Orange County Edition Business Part 4 Page 2 Column 4 Financial Desk 1 inches; 35 words Type of Material: Correction
Smith International Inc.'s position on the 1984 Fortune 500 list rose 10 spots to No. 365 from No. 375 position in 1983. In Thursday's edition, The Times incorrectly reported the change in position of the Newport Beach-based oil services company.

(Because Fortune ranks only industrial companies, not service, sales or financial concerns, such companies as Fluor Corp. are automatically excluded from the list, which ranks firms according to annual sales from the most recently completed fiscal year.)

Baker and Smith, their sales depressed by the persistent worldwide oil glut, slipped in the ranking this year. Baker slid seven notches from its 1983 ranking of 192, and Smith dropped 10 spots from 375.

199. Baker International Inc. Chairman: E.H. Clark, Jr. President: E. H. Clark, Jr. 1984 Sales: $1.8 billion 1984 Earnings: $70.6 million (Ranks No. 214) Assets: $2 billion (Ranks No. 148) 365. Smith International Inc. Chairman: Jerry Neely President: Fred Barnes 1984 Sales: $746.6 million (Ranks No. 365) 1984 Earnings: Lost $68.5 million (Ranks No. 467) Assets: $990 million (Ranks No. 259) 481. Winn Enterprises Chairman: Ted Nelson President: Dee R. Bangerter 1984 Sales: $452.2 million (Ranks No. 481) 1984 Earnings: $1.3 million (Ranks No. 448) Assets: $434.2 million (Ranks No. 396)

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