Tyco International – Wikipedia
The Tyco International was a listed group with American roots and seats in Cork in Irish as well as important administrative centers in Princeton (New Jersey). The most important branches of Tyco included fire protection and security systems.
Tyco employed around 70,000 people and generated sales of $ 10.6 billion in 2013. The group of companies worked in more than 60 countries. The Tyco stocks were listed at the New York Stock Exchange and represented in the S&P 500.
In 2016 Tyco and Johnson Controls merged.
Creation of a mixed group [ Edit | Edit the source text ]
Tyco was founded in 1960 by Arthur J. Rosenburg.
In 1992 Dennis Kozlowski CEO of TYCO, which enforced an aggressive acquisition strategy of over 1,000 companies between 1991 and 2001. Acquisitions include companies such as ADT Security, Curad and business areas of Siemens, Raytheon and AT&T.
With the takeover of ADT Security in 1997, Tyco moved to Pembroke, Bermuda. Although this change of the corporate seat was officially presented as part of the merger (ADT was already located on the Bermudas), the change was considered a quasi -legal step to a tax paradise in public debate. The tax advantage was advertised to shareholders and investors in the publications.
Shortly before a planned share of stocks in 1999, there were rumors about the disregard for accounting. The rumors were emphatically denied by the management of TYCO, which accused the sources of course manipulation in personal interest. Some shareholders fought partly in response to this at the general meeting to change the company form to a Delaware AG, but this desire was rejected by the board.
During this time, Tyco split off his deep -sea cable referral department, which she had acquired from AT&T and led as Tyco Submarine Systems, and brought it to the stock exchange as expected.
During the 1990s, Tyco’s earnings seemed to increase continuously, which is why many investors granted him the status as a default value. In retrospect, this had to be seen as an illusion, which was caused by the balance sheet treatment of the acquisitions. Unlike companies such as Enron, MCI Worldcom and HealthSouth, against which in 2001 and 2002 fraud allegations and other accusations were raised, Tyco never got into a liquidity crisis.
Splitting into specialized corporations and further restructuring [ Edit | Edit the source text ]
On January 13, 2006, the company announced that it would split up into three listed companies. The spin-off took place on April 29, 2007:
- Tyco Fire & Security- Fire Protection and Safety Technology division, later as Tyco International only the “Tyco” brand, 2016 Fusion with building technology division by Johnson Controls
- Tyco Healthcare-Health division, initially under the name Covidien, part of the Medtronic Group since January 2015
- Tyco Electronics – connectors, sensors and electronics components, Te Connectivity since 2011
In September 2008, Tyco Electronics announced that it would close the two works in France in mid -2009 and to move production to the locations (Germany) and Trutnov (Czech Republic).
In 2008 the group decided to move its seat from the Bermuda Islands to Switzerland. The move to Schaffhausen was carried out on March 17, 2009. This was also associated with the conversion of the TYCO International Ltd. in a stock corporation under Swiss law. [3] A new office building for 75 employees was also built in Neuhausen am Rheinfall.
On October 1, 2012, the ADT Security System division was split -off. In the same year, the Flow Controls division was brought into the new Pentair. At the beginning of 2016, Apollo Global Management ADT.
On May 2, 2014, Tyco International announced that he will move his headquarters from Switzerland to Ireland by the end of the year. The company prompted recent changes in Swiss law regarding the regulatory environment (rip-off initiative). [4] The movement of the seat was completed on November 17, 2014 with the entry in the commercial register, and since then the company has been operating as Public Limited Company According to Irish law. [5]
Fusion with Johnson Controls [ Edit | Edit the source text ]
On January 25, 2016, Tyco and Johnson Controls announced an agreement on the merger. The group created by the merger is said to operate as Johnson Controls PLC and have its headquarters in Cork in Irish. [6] [7] The merger was completed on September 6, 2016. [8]
The former CEO and CEO Dennis Kozlowski and the former CFO Mark H. Swartz were accused of the theft of $ 600 million, the criminal conspiracy at the expense of the company, accounting manipulation and the violation of stock market regulations.
During the consultations of the jury jury, a jury walked through the courtroom and made an okay in the defending table with her fingers. Later she denied that this gesture intended, but the incident occurred in public and the jury received threats after the publication of her name. Judge Michael Obus declared the suspension of the proceedings on April 2, 2004.
After the proceedings were resumed on June 17, 2005, Kozlowski and Swartz were found guilty with the exception of one of all 30 charges. The judgment enables prison sentences of up to 25 years. Kozlowski himself was sentenced to a prison sentence of no less than eight years and four months and no more than 25 years and a compensation of $ 134 million.
Meaning of the former overall group Tyco Electronics in Germany [ Edit | Edit the source text ]
Tyco Electronics is employed after the takeover of Deutsche AMP GmbH, Raychem GmbH and Jordan GmbH & Co KG for 4,900 employees at the Heidelberg, Bensheim, Ottobrunn, Berlin, Wört, Dinkelsbühl and Speyer production locations, who implemented almost € 2 billion / year . Since 2007, Thomas J. Lynch, followed by Jürgen W. Gromer, President of the Tyco Electronics division with 88,000 employees worldwide, who implements USD 12.2 billion.
Total Walther GmbH, fire protection and security in Cologne is also part of Tyco International. Part of this group is also the (Feuerlöscher-Löscherik-Service and much more) company Total Feuerschutz GmbH, based in Ladenburg.
In 1996 Sempell AG in Korschenbroich was also taken over by Tyco Electronics. The company, founded in 1874, produces fittings and valves for plant construction.
The entire ADT group in Germany was also part of the TYCO group. The most important ADT companies in Germany are:
- ADT-Deutschland GmbH
- ADT-Sensormatic GmbH
- ADT-Service-Center GmbH [9]
The medical technology division Covidien Has its headquarters in Neustadt an der Donau and employs around 700 people there who generate sales of over 300 million euros.
The Division Tyco Thermal Controls was also located under the heading Tyco Flow Controls (fusioned in the new Pentair in 2012).
Tyco Thermal Controls – Special Area Electrical Heating, Measurement & Control Technology and leakage monitoring.
The many products produced by Tyco include or included:
- Electronic components, solder -free connection technology and cable
- Network management, mobile communication technology, sensors and mechatronics
- Passive telecommunications technology
- Opensky and Edacs Border Communication Systems
- Plant construction
- Fire extinguishers, extinguishing agents, extinguishing systems, fire protection equipment, object and building protection, fire alarm systems
- Sprinkler
- Medical devices (kendall sterile water and breathing gas humidifier, wound supply, Nellcor pulsoximetry, puritan bennett ventilation devices, monoject spray, shiley tracheal hoses, etc.)
- Plastic product
- Pharmaceuticals (leading manufacturers of narcotics and paracetamol), Mallinckrodt Laborchemie products
- Security systems (ADT)
- Curad fire associations
- Fittings
- Nashua tubular tape
- Polyken pipeline products
- Security products (including industrial security & Personal Protective Equipment)
- Use control systems
- ↑ http://www.irishexaminer.com/business/tyco-to-move-its-global-headquarters- to-tpork-298339.html
- ↑ a b Annual Report 2013
- ↑ Tyco International Ltd., SEC-Filing Form 10-Q, 3. Quartalsbericht 2009 ( Page no longer available, search in Webarchiven ) Info: The link was automatically marked as a defect. Please check the link according to the instructions and then remove this note.
- ↑ Stefan Eiselin: Billions group Tyco turns their backs on Switzerland. Handelszeitung, May 3, 2014, accessed on June 20, 2014 .
- ↑ Entry of the Tyco International Ltd. In the commercial register of the canton of Schaffhausen ( Page no longer available, search in Webarchiven ) Info: The link was automatically marked as a defect. Please check the link according to the instructions and then remove this note.
- ↑ Johnson Controls and Tyco to Merge
- ↑ Johnson Controls and Tyco to Merge ( Memento of the Originals from January 25, 2016 in Internet Archive ) Info: The archive link has been used automatically and not yet checked. Please check original and archive link according to the instructions and then remove this note.
- ↑ http://www.johnsoncontrols.com/media-class/news/press-releases 2016/09/9/johnson-controls-and-tyco-complete-merger
- ↑ www.adt-dutschland.de , accessed on April 15, 2008
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