The Cal Yacht factory was moved to Tampa, Florida in January of 1980
Appeared on Fortune 500 List ranked as # 333 with Revenues of $785.9 million; Profits of $29.7 million; Assets of $516.3 Million; Stockholders' Equity of $179.3 million. Employees numbered 14,000.
Appeared on Fortune 500 List ranked as # 363 with Revenues of $758.9 million; Profits of $33.8 million; Assets of $529.8 Million; Stockholders' Equity of $207.2 million. Employees numbered 11,900.
John and Warren Luhrs purchased the Luhrs name back from Bangor Punta in 1981.
Moved Cal/Jensen Marine Divsion to Florida.
Appeared on Fortune 500 List ranked as # 361 with Revenues of $800.0 million; Profits of $44.2 million; Assets of $551.5 Million; Stockholders' Equity of $231.1 million. Employees numbered 11,400.
Appeared on Fortune 500 List ranked as # 395 with Revenues of $622.3 million; Profits of $3.1 million; Assets of $534.6 Million; Stockholders' Equity of $255.9 million. Employees numbered 10,000.
On December 6, 1983, Lear Siegler announced that it had purchased a 21% stake in Bangor Punta from James Stewart, a Bangor director. Lear makes jet planes and Bangor makes Piper aircraft.
Appeared on Fortune 500 List ranked as # 438 with Revenues of $547.7 million; Profits (- Loss) of -$64.4 million; Assets of $419.8 Million; Stockholders' Equity of $156.0 million. Employees numbered 8,417.
In February, Lear Siegler purchases Bangor Punta and marks the end of this highly visable corporation after 21 years.
June 1984, Chairman and President, David W. Wallace resigned. He had been president since 1967 and chairman since 1973. Mr. Wallace intended to continue in his various board memberships and other activities, which include service on the boards of the Producers Cotton Oil Company, Todd Shipyards, the SCM Corporation, Lone Star Industries and New York Hospital, as well as trusteeships of the Robert R. Young Foundation and Smith College.
O' Day Corporation, at one time one of the country's biggest auxiliary sailboat builders, went into involuntary bankruptcy in April 1989. The company was liquidated under Chapter 7 of the US bankruptcy code.
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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