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The Earth Technology Corporation (USA) history
The Earth Technology Corporation (USA) company history timeline
AECOM traces its origins to Kentucky-based Ashland Inc., which in turn grew out of Swiss Drilling Company, founded in Oklahoma in 1910 by J. Fred Miles.
In 1924 Miles launched a refining operation called Ashland Refining Company, headed by an ambitious young man named Paul Blazer.
While the parent company struggled, leading to the ouster of Miles, Ashland prospered under Blazer's leadership, and in 1936 he was named chief executive officer of the reorganized company, Ashland Oil & Refining Company.
In 1962 he went to work for Cahn Engineers, a small Connecticut firm that he helped to grow from a single office employing 16 to an eight-office operation employing more than 250.
In 1966 Ashland acquired Warren Brothers and became involved in the highway construction and construction materials business.
In 1969 Jesse Aweida, a Palestinian refugee and former executive of IBM, founded StorageTek, a company that dared to compete with computer industry giant IBM. Aweida surmised that a tape drive for an IBM mainframe computer could succeed against IBM's own product, provided it was 15 percent cheaper.
StorageTek introduced its first product, the 2450/2470 tape drive, in May 1970 and proved Aweida's conjecture correct.
Newman took over as president, and was later named CEO. By the time he left in 1977, Genge had become the third largest engineering firm in the country, according to Engineering News Record.
On October 31, 1984, StorageTek filed for Chapter 11.
In 1984 Ashland acquired Daniel, Mann, Johnson & Mendenall (DMJM), a global provider of transportation-related engineering services.
In January 1985 StorageTek's board of directors replaced Aweida with Ryal R. Poppa, an aggressive executive who was known for his ability to rejuvenate floundering companies.
The company managed to come out with its new disk drive in April and by the end of 1985 had cut its losses to only $52 million.
When the stock market crashed in 1987, Tu and Sun lost almost everything.
In 1989 Ashland decided to focus on its core petroleum refining business and elected to divest itself of some assets, one of which was an Ashland Technology subsidiary, Williams Brothers Engineering Co., involved in the construction of pipelines and oil processing facilities.
Ranking 239th on the 1991 Fortune 500 list of American manufacturers only seven years after filing for Chapter 11 bankruptcy, StorageTek is one of the computer industry's most successful turnaround stories.
The demand for memory was spurred in 1991 by the rise of the memory-intensive workstation market, and Kingston created a special department to serve this market in 1991.
In 1992 IBM had a 70 percent market share in disk drives.
Competing with about 15 companies, Kingston held a 45 percent share of the computer memory market in 1992.
In 1993, new networking and storage product lines were introduced.
The billion-dollar mark began to feel reachable, as 1994 revenues climbed to $800 million due to the efforts of 310 employees.
Kingston worked with Legend Technology Limited to develop computers for the Chinese market in 1996.
Also in 1996, the company introduced the TurboChip 133 processor upgrade, which gave a 486 computer the power of a 75 megahertz Pentium chip, and three new plug-and-play Ethernet adapters.
The goal of the expansion was to achieve faster turnaround times and lower prices amid the plummeting price of memory, which had dropped 80 percent during 1996-97.
In March 1999 AECOM added Day & Zimmerman Infrastructure, Inc., an aviation project and construction management firm.
The firm spent another $145 million in cash, stock, and notes on acquisitions in 2000.
Finally, in April 2001, AECOM acquired Warren Group, an English water engineering firm.
Two more acquisitions followed in fiscal 2002.
In December 2005, AECOM spent $2.5 million on the Schaumberg, Illinois, and Houston offices of The Austin Co., a Cleveland, Ohio-based design and construction firm that recently filed for bankruptcy.
"Kingston Technology Corporation ." International Directory of Company Histories. . Retrieved April 15, 2021 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/kingston-technology-corporation
"AECOM Technology Corporation ." International Directory of Company Histories. . Retrieved June 21, 2022 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/aecom-technology-corporation
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