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Kimberly-Clark Corporation (NYSE: KMB) is an American corporation that produces mostly paper-based consumer products. more...
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Kimberly-Clark brand name products include "Kleenex" facial tissue, "Kotex" feminine hygiene products, "Cottonelle" toilet paper, Wypall utility wipes, "KimWipes" scientific cleaning wipes, and "Huggies" disposable diapers. Based in Irving, Texas, it has approximately 63,900 employees.
History
Kimberly, Clark and Co. was founded in 1872 by John A. Kimberly, Havilah Babcock, Charles B. Clark, and Frank C. Shattuck in Neenah, Wisconsin with $30,000 capitalization. Their first business was running paper mills, a business they grew throughout the following decades. In 1914 the company developed cellu-cotton, a cotton substitute used by the US Army as surgical cotton during WWI. Army nurses used cellu-cotton pads as disposable sanitary napkins, and six years later the company introduced Kotex, the first disposable feminine hygiene product. Kleenex, the first throwaway handkerchief, followed in 1924. Kimberly & Clark joined with The New York Times Company in 1926 to build a newsprint mill in Ontario, Canada. Two years later the company went public as Kimberly-Clark.
The firm expanded internationally during the 1950s, opening plants in Mexico, Germany, and the UK. It began operations in 17 more foreign locations in the 1960s. The company formed Midwest Express Airlines from its corporate flight department in 1984. Kimberly-Clark's headquarters moved from Neenah, Wisconsin to Irving, Texas, the following year.
In 1991 Kimberly-Clark and The New York Times Company sold their joint paper mill. Kimberly-Clark entered a joint venture to make personal care products in Argentina in 1994 and also bought the feminine hygiene units of VP-Schickedanz (Germany) and Handan Comfort and Beauty Group (China).
Kimberly-Clark bought Scott Paper in 1995 for $9.4 billion. In 1997 Kimberly-Clark sold its 50% stake in Canada's Scott Paper to forest products company Kruger and bought diaper operations in Spain and Portugal and disposable surgical face masks maker Tecnol Medical Products. Augmenting its presence in Germany, Switzerland, and Austria, in 1999 the company paid $365 million for the tissue business of Swiss-based Attisholz Holding. Adding to its lineup of medical products, the company bought Ballard Medical Products in 1999 for $744 million and examination glove maker Safeskin in 2000 for about $800 million.
Also in 2000 the company bought virtually all of Taiwan's S-K Corporation; the move made Kimberly-Clark one of the largest manufacturers of consumer packaged goods in Taiwan and set the stage for expanded distribution in the Asia/Pacific region. The company later purchased Taiwan Scott Paper Corporation for about $40 million and merged the two companies, forming Kimberly-Clark Taiwan. In 2001 Kimberly-Clark bought Italian diaper maker Linostar, and announced it was closing four Latin American manufacturing plants.
Read more at Wikipedia.org
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