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Bangor Punta Timeline - 1970s

1970

  • Appeared on Fortune 500 List ranked as # 288 with Revenues of $329.9 million; Profits (- Loss) of -$8.6 million; Assets of $373.7 Million; Stockholders' Equity of $137.3 million. Employees numbered 10,500.
  • Sold Bale Pin Company to Herff Jones Co., a manufacturer of high school and college class rings, medals, pins, yearbooks and awards, and other recognition and motivation products, for cash and notes.
  • Purchased Alouette Snowmobile manufacturer Featherweight Corporation of Montreal, Canada
  • Purchased Forjas Taurus International Firearms

1971

  • Appeared on Fortune 500 List ranked as # 304 with Revenues of $337.5 million; Profits (- Loss) of -$0.5 million; Assets of $347.5 Million; Stockholders' Equity of $134.2 million. Employees numbered 9,020.

1972

  • Appeared on Fortune 500 List ranked as # 386 with Revenues of $275.2 million; Profits of $2.3 million; Assets of $332.9 Million; Stockholders' Equity of $135.2 million. Employees numbered 8,100.
  • Sold Alouette / Featherweight Corporation to Coleco (Canada) Ltd., a recreation and toy manfuacturer.

1973

  • Appeared on Fortune 500 List ranked as # 413 with Revenues of $277.1 million; Profits of $0.3 million; Assets of $315.8 Million; Stockholders' Equity of $135.0 million. Employees numbered 8,306.
  • Purchased Jensen Marine and Ranger Yachts
  • 1973-11-29: JENSEN MARINE, one of the companies making up the gigantic Bangor Punta Company, is another firm that will feel the pinch of the fuel shortage, but judging from its formal opening of five new buildings at its huge complex in Costa Mesa just recently, it is geared to shift from one type of boat to another.

    Jensen is known best for its famous Cal yachts, starting at 20 feet and ranging upward to 40 feet and more. However, the company makes Ranger yachts, Luhrs power boats, DeFever trawlers and even Balboa Motor Homes.

1974

  • Sold Waukesha Motor Company division and selected assets of its Waukesha's Clinton, Iowa plant to Dresser Industries, Inc. for $10 Million after turning down an offer from a group of Waukesha Motor Company executives of a reported $23 million.
  • Appeared on Fortune 500 List ranked as # 413 with Revenues of $340.7 million; Profits of $1.7 million; Assets of $328.0 Million; Stockholders' Equity of $128.4 million. Employees numbered 9,852.
  • In June, Bangor Punta Corporation announced that its recreational products group is expanding its boating line with the introduction of a new series of offshore Diesel-powered trowlers. The cruisers, designed by naval architect Arthur De Fever, were unveiled to the boating industry at a press conference held recently in Newport Beach, California. The boats will be built in Japan, Taiwan and at Bangor Punta's Jensen Marine facilities in Costa Mesa, California, and Marlboro, New Jersey. Marketing will be handled through Bangor Punta's network of marine dealers.
  • June 19,1974 Bangor Punta Operations, Inc. v. Bangor & Aroostook Railroad Company, Docket No. 73-718 was decided in favor of Bangor Punta by the United States Supreme Court.

1975

  • Appeared on Fortune 500 List ranked as # 451 with Revenues of $330.7 million; Profits (- Loss) of -$34.5 million; Assets of $250.7 Million; Stockholders' Equity of $92.6 million. Employees numbered 6,218.
  • Universal Cooperative Incorporated purchased the agri-products division of Starcraft, a subsidiary of Bangor Punta Corporation for an undisclosed amount of cash. Starcraft Is recognized as one of the leaders in the livestock equipment field. - January 1975

1977

  • July: Canadian Pacific sought to purchase a majority stake in Bangor Punta (BusinessWeek, 7/18/1977, Issue 2492, p23-23, 1/2p)
  • Sold Forjas Taurus to a group of Brazillian Investors

1978

  • Bangor's nine-year legal battle for control of the Piper Aircraft Corp. against the Chris-Craft Industries Inc. ended in March, freeing the company to focus on its business.
  • Appeared on Fortune 500 List ranked as # 365 with Revenues of $567.6 million; Profits of $18.1 million; Assets of $395.4 Million; Stockholders' Equity of $130.4 million. Employees numbered 12,800.
  • Jensen Marine Corporation ceases operations on 5/17/1978.

1979

  • Appeared on Fortune 500 List ranked as # 347 with Revenues of $656.1 million; Profits of $24.0 million; Assets of $441.6 Million; Stockholders' Equity of $155.6 million. Employees numbered 14,165.
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Bangor Punta Corporation Marketing Archives

Bangor Punta Era

The Bangor Punta era, lasted approximately twenty years -- from 1964 to 1984.

History will likely remember the company for its tenacity in pursuing acquisitions; their high-profile corporate executives; and, two United States Supreme Court cases that the company was involved in during its short life span.

Bangor Punta Nostalgic History

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