Textron Initiates the Trend Toward Conglomeration
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Economics
- Subcategories: Business, Industry, Manufacturing, Factories
- Curriculum: American History 1901-1950
- Geographical Location: New England, Ohio, Rhode Island, Boston
- Date: July 8, 1948
Article abstract: Textron initiated the conglomeration trend when it acquired its first nontextile firm, Cleveland Pneumatic Tool Company.
Summary of Event
The conglomeration era was initiated in the late 1940’s, developed in the mid-1950’s, accelerated in the 1960’s, and faded in the 1970’s. It was a short-lived business movement of questionable consequences, but it did change the composition of and rankings within the list of the largest U.S. companies. The conglomeration era is considered to have begun in July, 1948, when Textron, a major...
[The entire page is 2230 words long]
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