In 1897 John K. Stewart and Thomas Clark incorporated their Chicago Flexible Shaft Company, which made horse trimming and sheep shearing machinery. In 1910 the company produced its first Sunbeam branded household appliance, the Princess Electric Iron. The company did not officially change its name to Sunbeam until 1946. In 1928, the company's head designer, Swedish immigrant Ivar Jepson, invented the Mixmaster mixer. Introduced in 1930, it was the first mechanical mixer with two detachable beaters whose blades interlocked. The Mixmaster became the company's flagship product for the next forty years, but the brand also became known for the designs, mainly by Robert Davol Budlong, of electric toasters, coffee makers, and electric shavers, among other appliances.  Purchases and acquisitions
Sunbeam bought out the Rain King Sprinkler Company and produced one of the most popular lawn sprinkler lines of the 1950s and 1960s. Meanwhile, Sunbeam continued to expand outside of Chicago. By the end of the 1970s, as the leading American manufacturer of small appliances, Sunbeam enjoyed about $1.3 billion in annual sales and employed nearly 30,000 people worldwide. The John Oster Manufacturing Company was acquired in 1980 by Sunbeam Corporation. In 1981, after Sunbeam was bought by Allegheny International Inc. of Pittsburgh, most of the Chicago-area factories were closed and the headquarters moved from the Chicago region. During this time the companies Allegheny controlled included John Zink Company (manufactured air pollution control devices) and Hanson Scale (manufactured bathroom scales and other balance machines). Allegheny's 4 principal divisions, including Sunbeam, went into decline through the mid 1980s. Since Sunbeam-Oster was one of the most important divisions, responsible for nearly half of all sales, the stockholders were very concerned about the leadership. In 1986, the stockholders accused the Chairman and CEO, Robert Buckley of...
Please join StudyMode to read the full document