Western Industries history

In 1956 Bluhdorn secured a controlling interest in Michigan Plating and joined its board of directors.

Gulf + Western Inc.,, corporation that was founded in 1958 by Charles Bluhdorn and became one of the most highly diversified conglomerates in the United States.

By 1959, the company had grown so large that a new headquarters building was constructed in Fort Worth, Texas.

In 1965, as Gulf & Western's annual sales approached $200 million, Bluhdorn decided the time had come for the company to diversify.

Its operations had grown to 33 auto parts warehouses and 150 auto parts distribution outlets in 28 states by 1966.

In 1967 Bluhdorn's fondness for commodities again surfaced when Gulf & Western paid $54 million for South Puerto Rico Sugar Company.

In 1968 Gulf & Western's sales surpassed the one billion mark for the first time, reaching $1.3 billion and producing a net income of $69.8 million.

And, generally speaking, during the mid-1970's Gulf & Western managed to keep its earnings mounting when Litton, Fuqua, Bangor Punta, and other conglomerates had fallen on hard times.

In 1972 Paramount, which was close to bankruptcy when acquired, recorded its highest box-offices revenues in history.

•Background: Robertson's father started Western Industries in 1973 after leaving a local corrugated box company to create specialty packaging for 3M in Weatherford, Masnek said.

In 1974, the company built the Western Pacesetter III, a oil drilling rig in the gulf of Mexico.

In 1975 the company's operations in the Dominican Republic became a source of trouble.

In 1977 Gulf & Western bought Madison square Garden for double market price.

In 1978 the company spent $3.3 million to print its annual report in Time magazine, hoping to raise its price earnings ratio from a low multiple of four.

By 1981, the United States had increased the number of oil rigs from a low of 975 when the oil embargo began to a high of 4,530 in December of that year.

In early 1983 Bluhdorn died of a heart attack at the age of 56 while flying back from a business trip to the Dominican Republic.

In 1984 Gulf & Western continued its highly-focused acquisition program, paying $180 million for the remaining 73% of Esquire, Inc. that it didn't already own.

Gulf & Western completed its transformation into a tightly focused company during 1985 by selling its consumer and industrial products group to Wickes Company for $1 billion in cash.

In 1986, the Rangers had already posted a consecutive losing streak of 13 seasons, and trying to rebuild the team was beginning to drain the Chiles family coffers.

“BJ Services In Merger Deal,” New York Times, November 18, 1994, p.D5.

In 1995 Viacom’s Paramount unit and Chris-Craft Industries launched a new broadcasting network called United Paramount Network.

And the Mexico facility was opened in 2000 after one of the company's largest customers relocated there.