General Binding Corporation history

GBC expanded operations in 1952, opening another domestic manufacturing plant and founding General Binding Corporation Canada, Ltd.

In 1958, the European Economic Community established a 30 percent tariff on goods produced in Switzerland and sold throughout Europe.

In 1960, Swingline took over the operations of the Wilson Jones Company.

GBC went public in 1966, listing its securities on the OTC (over the counter) market.

To standardize the company's identity, a new corporate design was introduced in 1968 that featured distinctive red and black bars.

In 1969, GBC purchased Webtron Corp., a maker of specialty presses used for printing tags and labels, and set it up as a wholly owned subsidiary.

1970: ACCO Products is reorganized under a new parent company, ACCO World Corporation.

Due to the unstable political situation in the country at that time, however, the company refrained from doing business there until 1971, when it entered into a joint venture with a Brazilian firm to distribute its products.

In 1977 GBC purchased United States RingBinder Corporation.

Earnings fell to $236,000 on sales of $145.7 million, compared with 1981 earnings of $7.5 million on sales of $149.6 million.

In February 1983, senior management took ACCO International--the American side of the business--public and gained a listing on the New York Stock Exchange.

Sales in 1984 rose 13 percent to $165 million; net earnings soared to $6.4 million.

In 1985, GBC entered into an agreement with VeloBind, Inc., to develop a new binding system that used rigid plastic strips.

In order to avoid confusion, the ACCO International logo was incorporated into individual brand names in 1986.

The following year, Marbig-Rexcel, a company acquired in 1989, became part of ACCO Australia.

Research and development spending continued, resulting in the introduction of 14 new products in 1992, including binding machines, improved Therm-A-Bind systems, and shredding machines.

In 1994, GBC purchased Michigan-based Sickinger Co., a maker of high-volume paper punching machines.

The Sydney-based company had sales of $21 million in 1995.

GBC purchased Quartet Manufacturing, a visual communication product maker in 1997.

April 1999 announcements of a first quarter earnings decline of 82 percent and a workforce reduction resulted in a 26 percent hit to GBC's stock price.

By 2000, it had fallen from $134 million to $79.5 million.

Fortune had attempted to sell ACCO in 2001, but shifted direction when no satisfactory offers were put forth.