Research Manager to President Us Borax Chemical Corporation 1957 1986 19

Cover Research Manager to President Us Borax Chemical Corporation 1957 1986 19
Research Manager to President Us Borax Chemical Corporation 1957 1986 19
Carl L Randolph
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Swent: Did this come as a surprise to you? Randolph: Yes, it did. The negotiations were conducted in great secrecy in London. It was a fait accompli before there was any announcement outside of the British group. No one here knew about it. I know Hugo didn't know anything about it. Swent: It must have been quite a shock. Randolph: Yes, it was. At first, people didn't really know what to make of it, but I think that very quickly, fears were calmed. Initially, of course, the merger gave RTZ a 75 ...percent interest in U. S. Borax because there was a 25 percent public ownership. 50 Swent : Randolph: Swent : Randolph: In succeeding years- -1971- -they tendered for and picked up the other 25 percent. Yes. In 1971, then, they became 100 percent owners. I think it was one of the luckiest things that ever happened to the company to have been merged into an organization of the size and quality of RTZ. It's provided stability. With all the corporate raiders that have destroyed U. S. Corporations over the past couple of decades, the fact that the company has been really under the umbrella of this huge multinational mining company has been a godsend.

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