Standard Coosa-Thatcher Company

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Standard Coosa-Thatcher Company
Company type Public company (formerly)
Industry Textile
Founded1891
Defunct2003
Headquarters Chattanooga, Tennessee
ProductsMercerized yarn, cotton thread, spinning services
Revenue$175.5 million (1981)
$1.5 million (1981)
Number of employees
~2,200 (at peak)

The Standard Coosa-Thatcher Company was a textile corporation founded in Piedmont, Alabama in 1891. It was publicly traded beginning in 1922. [1] The firm is important because of its endurance for nearly a century and its expansion throughout the southeast United States and into the western United States.

Contents

The former Standard Coosa-Thatcher mill in Peidmont Standard Coosa-Thatcher Company Mill Piedmont Nov 2017.jpg
The former Standard Coosa-Thatcher mill in Peidmont

History of textile business

Standard Coosa-Thatcher Company made a significant addition to its Chattanooga, Tennessee mill in 1925. [2] It operated thirteen plants in California, North Carolina, Alabama, Tennessee, and Georgia. In 1981 the enterprise generated $175.5 million in sales and net income of $1.5 million or $2.82 per share.

Owners of the concern agreed to be acquired by a group of company executives, with additional funding from Wolsey & Company, a New York City investment firm, in April 1982. [1] They resolved to reject a bid from Chicago, Illinois investor Clyde W. Engle, who offered $60 per share. Stockholders continued to debate whether to accept the $53 per share offered by Standard Coosa-Thatcher officials in July 1982 [3]

See also

References

  1. 1 2 Standard-Coosa To Be Acquired, New York Times, April 15, 1982, pg. D5.
  2. ↑ Chattanooga, New York Times, October 4, 1925, pg. 28.
  3. ↑ Standard Coosa Asks Holders to Turn Down Engle Group's Offer, Wall Street Journal, July 13, 1982, pg. 41.
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