Tyco International Ltd is a Switzerland-based holding company of Tyco Group. It is a diversified manufacturing and service company, with four main operating groups.Tyco Fire and Security (generating 53 percent of total revenues) is the world leader in the design, manufacture, installation, monitoring, and service of fire detection, protection, and suppression systems, as well as being the world leader in electronic security services. Tyco Electronics (23 percent of revenues) is one of the world's largest suppliers of electronic components, with a leading position in passive electronic components, and is also one of the world's leading providers of undersea fiber-optic networks and services. Tyco Engineered Products and Services (13 percent of revenues) is the world's leading maker of industrial valves and controls, serving the petroleum, chemical, petrochemical, power generation, water management, pharmaceutical, pulp and paper, food and beverage, commercial construction, and other industries. Tyco Plastics and Adhesives (11 percent of revenues) is the number one producer of plastic trash bags in the United States, is one of the largest extruders of plastic film in the country, and holds world-leading positions in both plastic garment hangers and duct tape. Domiciled in Bermuda for tax purposes, Tyco International maintains its operational headquarters in West Windsor, New Jersey.
Tyco grew tremendously in the 1990s and early 2000s, with revenues increasing from $3.07 billion in 1992 to $34.04 billion in 2001; an aggressive program of acquisition during this period saw the company spend an estimated $62 billion to purchase more than 1,000 companies. On March 13, 2001, Tyco announces $9.2 billion cash and stock deal to purchase the CIT Group, a commercial finance company. Tyco director Frank Walsh helps arrange the deal. Tyco shares close at a high of $59.76 on the New York Stock Exchange. Business Week magazine lists Tyco CEO L. Dennis...
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