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Housewares Holding Company history
Housewares Holding Company company history timeline
One of the most important steps to General Houseware's recovery was its purchase of Chicago Cutlery in 1988.
1988 The Kitchen Collection Inc. and WearEver-ProctorSilex Inc. are acquired.
In June 1990 the company moved its corporate offices from Stamford, Connecticut, to Terre Haute, Indiana.
By 1990 the coal company, consisting of its own wholly owned subsidiaries Falkirk Mining Company, Coteau Properties, Sabine Mining Company, and the newest, Red River Mining Company, trimmed its staff by 30 percent and decentralized its operations to its individual mines.
Hyster-Yale became NACCO's biggest subsidiary, generating 67 percent of operating profit in 1990.
1990 Proctor-Silex merges with Hamilton Beach Inc.
Together, housewares (Hamilton Beach/Proctor-Silex and The Kitchen Collection) generated 10 percent of NACCO's profit in 1991.
In October 1992, a year that saw revenue jump to $79 million and profits increase to $4.4 million, the company took another step towards increasing its presence in the gourmet cooking market, purchasing OXO International, a New York-based manufacturer of a broad line of specialty kitchen tools.
In 1993, for instance, it sold its stainless steel cookware operation, having lost market share due to competition from countries such as Korea, Taiwan, Mexico, and China.
Driven primarily by explosive growth in its OXO and Olfa divisions, the company recorded a healthy 10 percent growth in sales in 1994.
In response to the late-1994 crisis, the company engineered a comprehensive overhaul of its supply chain the following year.
The new, tightly controlled Production/Sales/Inventory program--billed as the single most important "New Product" in the company's history&mdash-abled General Housewares to improve its overall 1995 service level to 88 percent.
Although once among the company's strongest performers, these product lines, which accounted for about 15 percent of total revenue in 1995, lost significant market share in the face of tougher competition from domestic companies such as Calphalon and Meyer, and from Hong Kong imports.
1995 NACCO Materials Handling Group acquires the Italian warehouse equipment maker DECA.
In 1997, production began at a Hamilton Beach/Proctor-Silex plant in Mexico.
2000 North American Coal acquires an interest in two lignite mining companies and a stake in 640 million tons of undeveloped lignite coal reserves.
Profit climbed even higher in 2003, reaching $52.8 million.
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