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Pure World, Inc history
Pure World, Inc company history timeline
Specializing in industrial properties and office buildings, AIP had gone public in 1985, enjoyed initial success, and then had begun to falter.
The Koethers made a run at Computer Memories, a California hard disk manufacturer, and unlike their other greenmail ventures they succeeded in taking over the company in 1988.
DML filed for bankruptcy in 1988.
In June 1992 they paid $1 million in cash and another $500,000 in stock to acquire NorthCorp Realty Advisors, Inc., a Dallas-based firm providing asset management services to the commercial real estate industry.
American Holdings gained majority control of DML in January 1995 and several months later, in September, changed its name to something more suitable: Pure World, Inc.
Pure World was rescued from bankruptcy in 1995 by investors Paul and Natalie Koether, with Paul assuming the chairmanship and Natalie handling day-to-day responsibilities as president.
Although it would take another couple of years before Pure World would see any significant sales from purified products, the company continued to experience a strong climb in sales, which soared to $10.8 million in 1997.
After four years he succeeded in getting the company back on its feet, paying off back taxes while coming to terms with creditors and paying them off. It would acquire the rest of DML in 1997.
Pure World continued to invest in its facilities in 1998, upgrading the plant facilities and constructing a new 13,000-square-foot warehouse.
Demand for botanical extracts remained weak in 2000, but due to a large processing contract, Pure World was able to post revenues of $24.2 million.
The adverse impact on the economy of the terrorist attacks of September 11, 2001 placed a further damper on Pure World's business. It still incurred a net loss of $1.6 million, and the processing order was a one-time sale, providing no momentum for 2001.
But Pure World continued to flounder in 2002, with sales slipping to $18.2 million and the company losing another $1.8 million.
Business picked up in 2003, as sales improved to nearly $21.9 million and the company trimmed its net loss to $245,000.
Paul Koether took over as Pure World's acting president, then in January 2004 he turned over the reins to Doctor Qun Yi Zheng, the company's chief operating officer.
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Pure World, Inc may also be known as or be related to PURE WORLD INC, Pure World Botanicals, Pure World, Inc and Pure World, Inc.