Waterford Crystal a case analysis

HISTORY OF WATERFORD CRYSTAL Waterford frappe was started by two brothers, George and William Penrose, in 1783. It was the most(prenominal) notable of all Irish crystal companies. In 1799, the Penrose brothers interchange Waterford ice to the Gatchell family. The crystal industry was prosperous until 1825. Irish glass in manufacturers began to slowly close due to tall export duties, the scotch depression, and a lack of capital. Waterford Glass was the last to close in 1851. It was reestablished nearly a century later by Charles Bacik and Bernard Fitzpatrick. In 1947, they set up a factory in Waterford, Ireland. A turning point in the come withs history came in 1950 when Joe McGrath made a sizable investment in Waterford Glass. He invested the capital needed to convert the small crystal manufacturing company into one with the potential to become a major histrion in the crystal industry. This investment gave his family control for the next cardinal years. Joe McGrath was committed to Ireland and providing jobs for his country. He wanted to reduce the countrys high unemployment level. His focus for Waterford Glass was on growing the company through with(predicate) exports to the United States. In 1966, Joe McGraths son, paddy field McGrath, took over management of Waterford Glass.

analogous his father, he was dedicated to Ireland and to providing employment opportunities for the Irish. McGraths quest to provide to a greater extent jobs for the Irish led him to diversify the company. By 1983, the company had acquired more than thirty non-core businesses. To reflect the expansion, management changed the companys name to Waterford Glass Group. In 1985, Paddy McGrath resigned as chairman of Waterford Glass. Concurrent with Paddy McGraths resignation, Paddy Hayes was appointed chairman and CEO of Waterford Glass Group. He immediately began to sell off the non-core businesses in an stew to reduce the companys high debt level. Waterford Glasss debt was virtually eliminated with the divulge of American... If you want to get a full essay, order it on our website: Orderessay

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