Calgon Carbon history

McConomy had grown up in the Pittsburgh area, earned a chemical engineering degree from Carnegie Mellon University in 1955, gone to work for Calgon Carbon's predecessor, and begun making his way up the ranks of management.

1968: Calgon Corporation is acquired by Merck & Co., Inc.

In 1970 the company formed Chemviron Carbon, S.A. in Brussels in order to market its products, engineering services, and water pollution systems in Europe.

Later in the decade Calgon Carbon looked to the Far East, in 1978 creating a joint venture with Mitsui Chemicals, Inc. and Mitsui & Co., Ltd. to serve markets in Japan, Korea, Taiwan, and later on in China.

And Merck said, this is not our business." Calgon Carbon's sales hovered around the $100 million mark, and in 1982 net income totaled $6.6 million, a far cry from the 15 percent on gross assets that Merck's management desired.

Teachers agreed, the other lenders acquiesced, and in 1987 Calgon Carbon made an initial public offering (IPO) of stock.

Revenues reached $308 million in 1991 and then began to slip.

Colin Bailey, a member of the management team that bought Calgon Carbon from Merck, was named CEO in 1994, while McConomy stayed on as chairman.

During Cederna's tenure, Calgon Carbon began offering consumer products in 2000, some of which were sold on QVC Inc.'s Home Shopping Network.

Gannon, Joyce, "Pittsburgh-Area Calgon Carbon CEO Makes Quick, Quiet Exit," Pittsburgh Post-Gazette , February 26, 2003.