Galvor Company

Case 10-3: Galvor Company

Background

Galvor Company was founded in 1946 by owner, and president M. Georges Latour. The company had acted as a fabricator, buying parts and assembling them into high quality, moderate-cost electric and electronic measuring and test equipment. Latour had always been personally involved in every detail of the firm’s operations as in most family businesses. Fiscal growth grew from $2.2 million in 1960 to $12 million in 1971. However, April 1, 1974, Galvor was sold to Universal Electric Company (UE), a large multinational organization with its European Head Quarters located in Geneva, Switzerland. The Company Head Quarter were located in the United States. Early in 1977, 42 people were employed in the controller’s department, prior to Galvor’s take over by UE; there had been fewer than 20 people in the controller’s department. Galvor’s new management and main key players were as follows
Latour: remained on the board for Galvor but ...