Somasundaram, Meera, Bic Stock Surges on Hopes of Higher Offer from Parent, Dow Jones News Service, May 19, 1995, DJ513919207. Gillette seriously underestimated the demand for disposable razors, however. The next step in the BIC production process is the cartridge assembly, where the ink is injected into the plastic tubes. They can find sex in a garage mechanic talking about shock absorbers. In 1967, the BIC Canada division was created, and in 1971, BIC Pen Corp. became a publicly traded company listed on the American Stock Exchange. In order to further educational development, BIC offers "Quality Comes in Writing," an educational program created for the company by Lifetime Learning Systems. Employees are able to expand and grow with the company through their Employee Involvement Program in which individual ideas and suggestions are "recognized, implemented and rewarded.". Byrnes, Nanette, Bic Corp.: Write on the Money, Financial World, June 8, 1993, p. 14. After a rocky start, Waterman-BIC established itself as the largest maker of ballpoint pens in the United States. BIC also slashed the wholesale price of its lighters so they sold at retail for less than one dollar. It was the fifth-largest pen manufacturer in the world, and this acquisition added premium writing instruments to Bic's line of product offerings. BIC Sport, Inc.; Guy Laroche NA; Bic Inc. (Canada); No Sabe Fallar SA (Mexico); Bic de Guatemala; Bic Puerto Rico. to determine the safety . A television ad campaign, with the slogan "Writes first time, every timeand for only 29 cents," was credited with creating broad appeal for the BIC pen in the United States. The group got the information from the PETA (People for the Ethical Treatment of Animals) Internet site, which contains information claiming BIC tests its ink in the eyes of rabbits and beagles. Information about some items was sent by manufacturers, Public Company phone: (203)783-2000 , $22M Campaign Urges: Spritz Your Bic, Advertising Age, February 20, 1989, p. 3. As of 1993, BIC Corporation accounted for 11 percent of the U.S. shaver market measured in revenues and 22.6 percent of the market measured in unit volume (due to the lower price of BIC shavers). ." U.S.A. Samsonite Corpo, founded: 1899 We are rather trying to show a broader picture and a structure of the production across the world. At the time, lighters accounted for about 40 percent of BICs revenues, and the day the story appeared, BIC stock fell 25 percent, from $32 to $24 per share. The inexpensive BIC pens did not catch on as quickly in the United States as they had in Europe, probably because the U.S. market had been flooded with shoddy pens by other companies. Most online reference entries and articles do not have page numbers. In its 1992 annual report, the company said it was vigorously appealing the verdict. The annual report went on to say, The legal expenses of defending product liability claims involving lighters continue to be heavy. . . In 1992 BIC purchased Wite-Out Products, Inc., the second largest maker of correction fluids for office use in the United States. BIC reintroduced the sail-board to the U.S. market when the patent expired in 1987. Although it stumbled again briefly in September following the airing of the ABC television program 20/20, which featured a story on lighter safety, the stock was back to $31 per share by October. Web site: http://www.clorox.com Loctite Corp At the time BIC controlled about 65 percent of the market for disposable lighters. BIC Corporation's basic business strategy in the late 1990s was to produce and market low-cost, high-quality stationery products, lighters, and shavers. Also acknowledging that a woman had died in an accident involving one of its lighters, BIC reassured the public that it had discontinued the model that was involved in the accident. However, as a result of our longstanding philosophy to vigorously defend these claims, and our success in doing so, the number of lawsuits continues to decline. The first adverse decision resulted in a $1,000 verdict, and the second verdict that went against BIC has been reversed and remanded for a new trial following BICs successful appeal. BIC sells over 14 billion pens in 150 different countries every day. We cannot guarantee all of our data is 100% accurate. However, Gillette seriously underestimated the demand for disposable razors. At the time lighters accounted for about 40 percent of BICs revenues, and the day the story appeared, BIC stock fell 25 percent, from $32 to $24 per share. 2019Encyclopedia.com | All rights reserved. Armstrong, Jeffrey D., BIC Corp.: The Stock Will Strengthen as the Issue of Lighter Safety Fades, Barrens, October 12, 1987, p. 69. In 1982 the company introduced the BIC Sailboard, which quickly became the North American market leader. By the time his competitors figured out how to build an equally good pen for the price, Bich had a lock on the market.. . During this time Dupont explored the possibilities of marketing a disposable lighter, developing an inexpensive disposable lighter called Cricket, which it introduced in the United States in 1972. disposable lighter that could provide 3,000 lights before wearing out. In the early 1990s, BIC Corporation faced major legal challenges to its disposable lighter business in the United States. During this time, injection-molding machines, along with plastic extruders, are used to create the barrels and caps for the pens. clichy, france: societe bic, 1997. investigate companies by their standard industrial classification codes, also known as sics. Company Profiles for Students. Soon after founding the business, Bich began to explore the idea of a reliable, low-cost ballpoint pen. However, as a result of our longstanding philosophy to vigorously defend these claims, and our success in doing so, the number of lawsuits continues to decline. The first adverse decision resulted in a $1,000 verdict, and the second verdict that went against BIC was reversed and remanded for a new trial following BICs successful appeal. (July 28, 2022). At one time, Waterman Pen was the worlds leading maker of fountain pens. The acquisition of Sheaffer put BIC in a better position against its long-time competitor Gillette, which had acquired two high-end pen companies several years earlier. It pulled Cricket from the market and later sold the brand to Swedish Match Corporation, which licensed the lighter for distribution in the United States. In 1970 Gillette purchased the S. T. Dupont Company, a prestigious French manufacturer whose principal product was luxury cigarette lighters that sold for hundreds of dollars. In 1971 Waterman-BIC became the BIC Pen Corporation, more accurately reflecting its business. In the early to mid-1990s, BIC Corporation was also able to revitalize its writing instrument sales by applying the same line extension strategy used for its lighter products (the application of decorative wraps). Moskowitz, Daniel, Courts Tackle Safety Liability in Product Design, Washington Post, February 8, 1993, p. WB11. The program is designed to help students in grades 4 through 6 develop strong writing skills through interesting activities. Sloan, Pat, Bic Pulls Fragrances After Flickering Sales, Advertising Age, March 12, 1990, p. 77. Another significant development in the late 1990s was BICs acquisition of Sheaffer Group in 1997. "eastern students plan pen protest." url: http://www.bicworld.com http://www.qualitycomesinwriting.com. Though BIC still trailed Gillettes pens in terms of pens sold to offices, the firm led the market for pens sold to individuals and had enhanced its line with many attractive new models. The Pennsylvania case was the first involving BIC to go to trial, and the Times reported that although claims began to trickle in soon after Bic introduced its throwaway lighters in 1972 the company has until recently been able to keep the cases quiet by settling them out of court. The newspaper stated that BIC had settled more than 20 cases for amounts ranging from $5,000 to almost $500,000. Public Company It is available to teachers at no charge on the program's Web site at http://www.qualitycomesinwriting.com. The company's Fashion Rollers included the Bouquet brand, which appealed to young girls, while the Old World brand appealed to businessmen. During this time BIC attempted a further diversification by launching a line of inexpensive, pocket-sized perfume spritzers in 1989. The company reported strong sales of both its Wavelengths and Classic pens. ." Another part of BIC Corporation's strategy was to grow through acquisitions. The company reported its highest ever sales and earnings in 1992, and moved its trading from the American Stock Exchange to the New York Stock Exchange. Incorporated:, Biblioteca Nueva de Madrid (Freud, S., Obras Completas), Bibliographisches Institut & F.A. Also in 1996, BIC rolled out its new Wite-Out Pen, a no-squeeze correction pen. During this time ballpoint pens, although still very expensive, were becoming popular in Europe, and the first ballpoint pens were introduced in the United States, selling for $12.50 each at New Yorks Gimbels Department Store. From there they are shipped out all over the world. BIC Corporation's international operations include subsidiaries in Canada, Mexico, Puerto Rico, and Guatemala. Flax, Steven, Why Bic Got Flicked, Forbes, September 27, 1982, p. 38. In all, 17 quality checks are made during the ball-grinding and point-making process. Earthlings, a student environmental group, sponsored a "pen swap" in hopes of encouraging peers to trade in BIC pens (the ink is tested on animals) with those from Pilot, one of the few writing instrument manufacturers that does not do animal testing. The line included the BIC Shaver for Normal Skin, the BIC Lady Shaver, BIC Metal, BIC Pastel Shavers, and twin-blade products. can be no longer manufactured. In 1998, BIC purchased the Sheaffer Pen Corporation, a Fort Madison, Iowa-based manufacturer. The company also changed the name of its Writing Instruments division to Stationery Products, indicating an intention to market an expanded line of stationery-related products, while continuing to expand its successful lines of pens, lighters, and shavers. "BIC Corporation the companys sales. As a result of BIC managements candor, the companys stock began to regain value. 500 BIC DriveMilford, Connecticut 06460U.S.A. ." But let somebody say, Flick my BIC,this is beautifully obsceneeveryone nods their heads and lets that go, because well, we know you cant possibly mean that, that would be obscene.. The enactment of federal rules requiring that all disposable lighters sold in the United States be "child-resistant" was seen as a beneficial development for Bic. BIC alleged that imports from China and Thailand were being sold at below market value, with lighters going for as little as six cents each wholesale, and the numbers of such cheap lighters were increasing yearly. Scents and Sensibility, Time, May 20, 1991, p. 47. Therefore, Gillette spent very little on advertising. Whereas early ballpoint pens were known to clog and leak, Bichs pens proved reliable and achieved immediate success in Europe with annual sales exceeding $5 million by 1955. A series of commercials soon showed sensuous women urging cigarette smokers to Flick My BIG, a phrase perceived as having sexual connotations, that soon became a part of the national lexicon. According to the ads, 58 percent of the participants claimed that there was no difference between the BIC shave and the Gillette shave. Anticipating that BIC next would bring out the shaver in the United States, Gillette quickly introduced its own disposable razor dubbed Good News! in 1976, a full year before the BIC shaver made its U.S. debut. By the end of 1979, Gillette and BIC each controlled about 50 percent of the market for disposables, which had grown to represent 20 percent of the total market for wet-shave razors. The place of production may have changed since then or new place may have been added. Pens comprise about half of the companys production, as well as half of its sales and earnings. In 1982, with revenues approaching $220 million, BIC acknowledged its expanding status as a leading maker of lighters and shavers by dropping pen from its name to become, officially, BIC Corporation. packaging digest, january 1997. kaplan, andrew. In 1995, with exchange rates very favorable to the French franc, BICs parent, Socit BIC, S.A., offered to buy up a large chunk of BIC Corporations stock and take the company private. Despite an ad campaign that Advertising Age estimated as costing $22 million, touting the fragrances as Paris in your pocket, Parfum BIC lasted less than a year in the United States. Therefore, that information is unavailable for most Encyclopedia.com content. Refer to each styles convention regarding the best way to format page numbers and retrieval dates. In one of those, however, a jury in Creek County, Oklahoma, found BIC responsible for injuries to three children severely burned while playing with a lighter, awarding ." In 1996, BIC Corporation introduced its Twin Select Tough Beard Shaver, the first shaver for tough or heavy beards. They founded the company that would later become Bic. The patented Child Guard lighter required that a safety latch be moved to the side and up before it would light. 1001 Trout Brook Crossing During this time BIC attempted a further diversification by launching a line of inexpensive, pocket-sized perfume spritzers in 1989. This action set off a fierce price war with Gillette. At the time, BIC controlled about 65 percent of the market for disposable lighters. By then BIC had also taken a tentative step into sports equipment. bic's primary sics are: "BIC Corporation cost more to make and sold for less than the companys replacement blades. After the merger, business did not change substantially at BIC Corporation. The case, Griggs v. BIC Corp., was remanded to a lower court that had originally dismissed the case. For example, while in the early 1990s BIC Corporation was said to have lost market share to cheaper (and lower-quality) imported Asian lighters, the company was able to reverse the trend by implementing more effective marketing and introducing value-added, higher-margin product line extensions. https://www.encyclopedia.com/books/politics-and-business-magazines/bic-corporation-0, "BIC Corporation Waterman-Bic Pen Corp.: On the Ball with the Ball-point, Nations Business, December 1970, p. 72. The company's 1997 acquisition of Schaeffer also helped increase Bic's market share by adding premium writing instruments to its product offerings. You are going to do what you are told.. Bich the Ballpoint King, Fortune, August 15, 1969, p. 122. Cooper, Wendy, The Case of the Exploding Lighters, Institutional Investor, December 1987, p. 209. Starting To Click; Mainstay Products Help BIC Mark Profit Gains, Barrons, June 23, 1986, p. 52. Company Profiles for Students. The company developed and patented a child-resistant lighter design said to be superior to those of competitors' products. ." Therefore, be sure to refer to those guidelines when editing your bibliography or works cited list. Bics core activities are the manufacture and sale of stationery products, lighters and shavers. For a week the company stonewalled, refusing to provide information or answer questions about the allegations amid rumors that thousands of lawsuits had been brought against the company and that a New Jersey congressman was threatening to hold hearings on the safety of BIC lighters. It is also an industry leader in the production of disposable shavers. Disposables were especially popular among teenagers, and women appreciated the BIC Lady Shaver, the first razor specially designed and marketed with them in mind. . Pilot donated pens for the product exchange. Bichs U.S. managers urged him to make a more expensive ballpoint to compete with PaperMate, but Bich resisted. The company has facilities in nine locations in North America, Guatemala, and Mexico. that change in a timely manner. In June 1992, the company acquired Wite-Out Products Inc., the second-largest manufacturer of correction fluid, for $19.9 million in cash. Competitors in those industries include: American Safety Razor; Gillette; PaperMate; Pentel; Pilot; Sanford; Schick; and Warner-Lambert. According to the company, BIC invests heavily in employee training and technology. They can find sex in a garage mechanic talking about shock absorbers. The ruling involved a case in which a three-year-old child took a BIC lighter from his fathers pants pocket and set fire to an infants bedclothes. bic corporation company report. Because each style has its own formatting nuances that evolve over time and not all information is available for every reference entry or article, Encyclopedia.com cannot guarantee each citation it generates. https://www.encyclopedia.com/books/politics-and-business-magazines/bic-corporation, "BIC Corporation While almost all of these cases were decided in the favor of BIC Corp., the company had to pay costly bills for its legal defense. An Igniting Controversy, Time, April 20, 1987, p. 56. Gillette leaders were incensed by the ads and asked the three major television networks not to run the commercials unless BIC could document its claims. In light of a subsequent decision by the Pennsylvania court, BIC is expected to re-file its motion for summary judgment. Bic monitors the entire manufacturing process, giving constant attention to the development and improvement of its products. (510) 271-7000 In response, BIC claimed in March 1997, that animal testing was required by law ". always possible. Another division, BIC Sports, was started up in 1981 to market sailboards; by 1996 BIC Sports was the world's leading sailboard company. Encyclopedia.com. Oakland, California 94612 The Consumer Product Safety Commission also adopted a child-resistant standard for disposable lighters that became effective in July 1994. As of 1998, the company manufactured about 3.0 million ballpoint pens, 2.5 million shavers, and 1.0 million lighters per day. BIC made modifications in the productincluding formula improvements and changing the name of the brand to BIC Wite-Outand was able to increase its market share in the category. Therefore, its best to use Encyclopedia.com citations as a starting point before checking the style against your school or publications requirements and the most-recent information available at these sites: http://www.chicagomanualofstyle.org/tools_citationguide.html, 86% Owned Subsidiary of Socit BIC, SA.Incorporated: 1958 as Waterman-BIC Pen CorporationEmployees: 2,700Sales: $1.2 billion (1996)SICs: 3951 Pens & Mechanical Pencils; 3999 Manufacturing Industries, Not Elsewhere Classified; 3421 Cutlery. . We can't guarantee the completeness or accuracy of presented information. Even when the stocks of many name-brand consumer product manufacturers hit a bump in the summer of 1993, analysts predicted more rosy growth for BIC. . International Directory of Company Histories. . In another effort to establish a market in the United States, Waterman-BIC distributed its pens for sale in grocery stores and small shops near schools where students congregated, rather than in the department stores that carried more expensive pens. Brockhaus AG, Bicalho Oswald, Henrique Carlos (19181965), https://www.encyclopedia.com/books/politics-and-business-magazines/bic-corporation, https://www.encyclopedia.com/books/politics-and-business-magazines/bic-corporation-0, https://www.encyclopedia.com/economics/economics-magazines/bic-corporation. Within the Cite this article tool, pick a style to see how all available information looks when formatted according to that style. Encyclopedia.com gives you the ability to cite reference entries and articles according to common styles from the Modern Language Association (MLA), The Chicago Manual of Style, and the American Psychological Association (APA). During the time that BIC and Gillette were battling over disposable lighters, the companies were also going head-to-head for a new segment of Gillettes traditional business, disposable shavers. Fax: (860) 571-5465 In 1949, Bich introduced the BIC ball-point pen (shortened from his name) in Europe. Attorneys for the children argued that the lighter should have been more child resistant; BIC argued that the children should have been better supervised. The latch slid back into place automatically after each use. The company brought out a correction pen in 1996, using technology gained from its earlier acquisition of Wite-Out. sites to earn advertising fees by advertising and linking to amazon.com. Officers: Bruno Bich, Chmn. By the time his competitors figured out how to build an equally good pen for the price, Bich had a lock on the market.. Marketed under the name Parfum BIC, the fragrances were first introduced by Socit BIC, S.A. in Europe, where they were sold alongside other BIC products.
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