June 26, 1987 |
Allegheny International Inc. said Monday it will sell its John Zink Co. subsidiary to an affiliate of Lone Star Technologies Inc. of Dallas and its Bra-Con Industries Inc. subsidiary to Dollar Corp. of Troy, Mich. Allegheny International declined to disclose the terms of either deal. John Zink, based in Tulsa, Okla., is an engineering and manufacturing firm that supplies combustion technology products and energy recovery equipment and services.
December 22, 1987 |
Allegheny International on Monday said that it lost $217.5 million during the third quarter due to writeoffs associated with the company's discontinued real estate and credit subsidiaries. The company lost $13.9 million in the third quarter of 1986. The Pittsburgh-based company reported sales of $187.2 million for the quarter ended Sept. 27, compared to sales of $231.8 million for the same period in 1986.
July 30, 1987 |
Corporate raider Irwin L. Jacobs said Wednesday that he and Carl Pohlad, owner of the Minnesota Twins baseball team, had bought a large stake in Allegheny International Inc., the troubled maker of Sunbeam and Oster brand appliances. Jacobs said the stock had been bought for investment purposes and that the purchases, amounting to nearly 9% of the company, had been made within the last week. He would not say Wednesday if he will buy more shares.
March 30, 1999 |
Sunbeam Corp. said President and Chief Executive Jerry Levin, who took charge of the troubled appliance maker after the firing of Chairman Albert Dunlap nine months ago, will also become chairman. Delray Beach Fla.-based Sunbeam, the largest U.S. maker of small appliances, said Levin, 54, replaces Peter Langerman, 43, an outside director who was recently named chief executive of Franklin Mutual Advisers Inc., Sunbeam's largest shareholder.
January 1, 1998 |
Sunbeam Corp. expects record profit for 1997, having rebounded from a loss in 1996 by selling a trimmed-down line of improved products. The company's product line has shrunk more than 80% since Albert "Chainsaw" Dunlap took over in 1996. Although Dunlap's turnaround plan involved cutting products--as well as firing half the company's employees--he has also concentrated on improving Sunbeam's items.
June 18, 1998 |
Sunbeam Corp. fired its vice chairman and chief financial officer, Russell Kersh, a longtime aide to ousted Chairman Al Dunlap. The household appliance maker named Robert Gluck, vice president and controller, as acting chief financial officer. Kersh joined Sunbeam in July 1996, four days after Sunbeam hired Dunlap. He had worked with the turnaround expert at Scott Paper Co., where he was executive vice president for finance and administration.