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Collins & Aikman Plastics Inc history
Collins & Aikman Plastics Inc company history timeline
He handily beat that timetable when in September 1985, he completed the $1 billion purchase of Gulf & Western's Consumer and Industrial Products Group, doubling Wickes's size.
He amassed a new $1.2 billion war chest in 1986, but hostile efforts to capture National Gypsum and Owens-Corning Fiberglas both failed. It formally took effect in January 1987.
Don McCullough retired at the end of 1987.
1987: The Wickes Companies purchase C & A for $1.16 billion.
That summer Wickes established an $11.2 million after-tax reserve, which, as the Wall Street Journal noted, 'surprised analysts who initially estimated liability in the hundreds of millions.' For the year ended January 1988, C & A contributed $83 million in operating profits to the Wickes total.
During the restructuring process, some 27 business units, which had contributed 73 percent of 1988 sales, were divested (some to groups headed by division management). When no buyers could be found, some units were closed, as was the case with the Builders Emporium chain.
In 1995, the firm purchased AMCO, a convertible top producer.
1997: Restructuring begins as C & A divests some holdings in order to focus on the automotive industry.
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Collins & Aikman Plastics Inc may also be known as or be related to Collins & Aikman Plastics Inc and Collins & Aikman Plastics Ltd.