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Global Industrial Technologies Inc history
Global Industrial Technologies Inc company history timeline
The company got help from an unexpected quarter, Hurricane Andrew, which roared across the Gulf oil patch in late August of 1992, leaving extensive damage.
In 1992 the INDRESCO Company Inc. was created as an independent public company in a spinoff to shareholders by Dresser Industries, Inc.
The company also completed plans to go public in 1992, making its initial public offering in the winter of that year.
In 1993, it acquired The Red Adair Company, the high profile outfit made famous for its successful well-capping exploits throughout the world.
In 1994, Global invested about $9 million in upgrades that allowed the Chickasaw to lay pipe in depths up to 6,000 feet.
By that time it had also purchased lift or jackup boats (self-propelled, self-elevating work platforms) for its growing fleet of specialized vessels, initially with a purchase of sixteen from Halliburton in 1994.
Concentrating on overseas expansion in 1995, INDRESCO created an International unit within the refractories division.
It also commissioned the building of the Pioneer, a 200-foot, semi-submersible dive-support vessel capable of working in 12-foot waves and staying on station in seas running up to 20 feet. For example, in 1995 it bought the Mohawk, a 320-foot derrick and pipelaying barge operating in Indonesia.
In 1996 Harbison booked the largest project sales order in its history, a $25 million contract to provide refractory products for 268 new coke ovens being constructed in Indiana.
In 1996, Global took a major step in that direction when it purchased Norman Offshore Pipelines, Inc. and created a new Coastal Division in New Iberia.
Harbison revenues hit an all-time high in 1997, reaching $333.5 million with an increase of 12 percent over the previous year.
1997: Global acquires some assets of Sub Sea International from Dresser Industries Inc.
"Harbison-Walker Refractories Company ." International Directory of Company Histories. . Retrieved April 15, 2021 from Encyclopedia.com: https://www.encyclopedia.com/books/politics-and-business-magazines/harbison-walker-refractories-company
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Global Industrial Technologies Inc competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| One Source Assoc. | 1946 | $11.0M | 53 | 5 |
| Prime Source Marketing | - | $1.3M | 2 | 13 |
| Acme Brick | 1891 | $750.8M | 2,913 | 2 |
| School Specialty | 1959 | $658.4M | 1,136 | 7 |
| Tube City IMS | 1926 | $2.5B | 2,555 | 78 |
| The Empire Company | 1946 | $21.0B | 34,637 | 2 |
| Specialty Textiles Inc | - | $330,000 | 5 | 3 |
| Brenntag Southwest | - | $13.8B | 17,500 | - |
| Daily Printing | 1950 | $18.8M | 50 | - |
| Alta Dena Dairy | 1945 | $165.0M | 350 | 3 |
Global Industrial Technologies Inc history FAQs
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