How James E. Stewart fits into the Bangor Punta story

Bangor Punta
On December 6, 1983, Lear Siegler announced that it had purchased a 21% stake in Bangor Punta from James Stewart (1922-2006), a Bangor director and CEO of Lone Star Industries. Lear makes jet planes and Bangor makes Piper aircraft.

At the announcement of the block trade, "a Lear Siegler spokesman said that the company was interested in Bangor Punta mostly because of its Piper Aircraft unit which makes light airplanes." Lear Siegler's CEO said that his company "hopes to obtain representation on Bangor Punta's board and 'exercise some influence over the company’s future course.'" Lear also said that it had no present intention of fully acquiring the company but that it might purchase more shares.

Lumber Foreman - 1968 Bangor Punta Annual Report

Several months later, Lear Siegler did tender for the remaining shares in Bangor. Throughout this period Bangor continued to pay the same quarterly dividends of twenty cents per share. After the acquisition, Lear Siegler quickly integrated Bangor Punta's operations with its own by closing several plants and consolidating manufacturing operations in Florida.

A highly diversified firm, Bangor Punta Corporation, explains that the role of its corporate headquarters is “to act as a central bank supplying operating units with working capital and capital funds” (1966 Annual Report)..

The Website will feature vintage advertisements from the Bangor Punta era and other historical documents as they become available.

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Bangor Punta Corporation (BNK)
Corporate Activites and Annual Reports
GG Archives Online Exhibit

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1968 Bangor Punta Corporation Annual Report

Bangor Punta Corporatation Timeline

BP Corporate Other

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.

Nostalgic History

This website was created as an educational and research informational site that presents the public image of Bangor Punta and the companies they owned.

If you have scans of documents related to Bangor Punta that you would like to contribute, please contact us at [email protected]