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History
Through numerous acquisitions, the company grew and its core activities soon included everything from book binding and paper manufacturing, to the printing of stationery, playing cards, maps, forms and printing securities; including share certificates and bonds.
By the early 1960s SLT had an overwhelming number of competing operations and products, and in 1964 a period of dramatic structural change began. Divisions with similar activities were merged and any incompatible operations disposed of.
On August 1, 1970, the group changed its name to Esselte. With high liquidity, vast borrowing potential and an agreed overseas acquisition program, Esselte embarked on a period of dynamic growth; beginning with the acquisition of Benson's International Systems Ltd, the world's largest producer of ring binder mechanisms.
Major Events
1976 Esselte acquires Oxford Pendaflex Corp, a leading U.S. manufacturer of suspension filing systems.
1978 Esselte acquires DYMO Industries Inc, a San Francisco embossing company, which also included the Meto price marking business.
1981 Esselte acquires Letraset Ltd, a world leading supplier of products for graphic design and technical drawing.
1990 Esselte's commercial real estate, publishing, book retailing and printing operations are sold.
1992 The Annual General Meeting approves the demerger of Esselte into two separately listed companies.
1996 Esselte acquires the Curtis Manufacturing Company, a U.S. Computer Products business; and Karl Bene & Co., Austria's largest office products supplier.
1997 Jan Kvarnström is appointed President and CEO of Esselte. A new strategy is developed with a focus on developing the group's legal, financial and operative structures.
1998 Esselte acquires several computer products and office product groups including Leitz, the largest office supplies manufacturer in Germany, and CoStar, a U.S. manufacturer of label printers for personal computers. The Nielsen and Bainbridge business is divested.
1999 The Meto business is distributed to shareholders. Esselte becomes a company focused on office supplies and the head office is moved to the UK. Anders Igel is appointed President and CEO of Esselte.
2000 Esselte's profitibility grows. There is an increased focus on the key operating divisions, and operating income is significantly increased. The Monti printing business is divested.
2001 Esselte is weathering a severe recession by continued operational and business improvements. Cash flow is increasing dramatically. The Letraset graphics business and the Tarifold filing system business are divested. The Curtis business is restructured.
July 2002 Esselte becomes a private company, as J.W. Childs public offer to the shareholders of Esselte AB is accepted by shareholders representing 97 percent of the capital and 97 percent of the votes in Esselte. Following the acquisition Magnus Nicolin, formerly an EVP of Esselte, was appointed President and CEO.
May 2005 The Australia Apollo team successfully launched the Axapta ERP solution. The highly effective integration tests, well documented and successful business simulation tests resulted in a very clean and smooth cutover to a totally new system.
November 2005 Esselte Group Holdings AB (publ) announced the divestiture of its Dymo labellingg business to Newell Rubbermaid for approximately $730 million USD. The divestiture of the Dymo business will allow Esselte to pay off substantially all of its current debt and concentrate on its remaining core business of organisation and presentation solutions, such as filing, desktip and binding and lamination products. In addition, Esselte intends to increase its investment in Xyron, a leading marketer of proprietary hobby and craft productsto fully leverage this rapidly growing market.
December 2005 Esselte Group Holdings AB today announced the departure of President and CEO Magnus Nicolin and named Gary Brook, currently president of its U.S. Filing Division, as his successor. nicolin was named President and CEO in July 2002 upon the purchase of Esselte by J.W. Childs Associates, L.P. He successfully led the company's restructuring efforts while achieving growth in the DYMO division and completing the aquisition of the rapidly growing Xyron business. Brook, President of Esselte's Filing Americas division since March 2005, will continue to run the North American filing business as well as step into the role of President and CEO.
ESSELTE AUSTRALIA BRIEF HISTORY
1965 - Dymo Industries has its business registered in Wyong, NSW.
1978 - Esselte Corporation acquires Dymo Industries.
1980 - Esselte Australia acquires the stationery division of Advance Industries. Advance was Australia's leading supplier of plastic welded stationery products with over 40% market share.
1985 - Esselte Australia acquires Columbia Products Limited. Columbia were the manufacturers of the Columbia range of pencils.
1990 - Esselte acquires Hogbin Excelsior. Hogbin were a large stationery distributor with a broad range of products which included brands such as Spirax and Open.
1998 - Esselte Australia acquires Celestial Products and SWS Products. Celestial and SWS were local manufacturers of plastic moulded desk accessories. With these acquisitions Esselte became the market leader in Australia for plastic desktop products.
2003 - Esselte Corporation acquires Xyron Limited. Xyron is a prominent player in a number of rapidly growing craft specific and creative markets.
2005 - Esselte Corporation divests the Dymo Division.
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