Augusta Economy

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5 years later: A look at local companies then and now

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Wall Street spent September reminiscing about the five-year anniversary of the Lehman Brothers bankruptcy – the meltdown stemming from losses from toxic mortgages believed to have triggered the collapse of the stock market in the Great Recession. Here is a snapshot of some of the key corporate employers in the Augusta are and their progression from then to now.

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Load auditor Victor Wilson packs an electric golf car for shipping at Club Car, which is owned by Ingersoll Rand.  FILE
FILE
Load auditor Victor Wilson packs an electric golf car for shipping at Club Car, which is owned by Ingersoll Rand.

Tim Rausch
Business Editor
Twitter: @Scuttlebiz
E-mail | 706-823-3352

Looking at the financial performance of Bridgestone, Textron, Ingersoll Rand, International Paper and Kimberly-Clark, the quarterly revenues vary, but they have become larger and more profitable. Stock prices for four of the five are higher.

Textron and Ingersoll Rand diversified their products at E-Z-Go and Club Car, building electric utility vehicles instead of just golf cars.

Kimberly-Clark weathered the storm well because it produces every-day staples at the largest plant in its portfolio.

Bridgestone expanded its local operations, building onto its existing plant and constructing a new facility.

THE COMPANIES

Kimberly-Clark
Local connection
Operates a tissue- and diaper-manufacturing plant in Beech Island.

Stocks
Price on Sept. 15, 2008: $64.35
Price on Sept. 16, 2013: $96.43

Jobs
Then: 53,000 employees
Now: 58,000 employees

Financial performance
Then: $4.9 billion in quarterly sales and $413 million in quarterly profit.
Now: $5.2 billion in quarterly sales and $526 million quarterly profit.

International Paper
Local connection
Operates a packaging-cardboard-manufacturing plant in Augusta.

Stocks
Price on Sept. 15, 2008: $29.89
Price on Sept. 16, 2013: $49.41

Jobs
Then: 61,700 employees
Now: 70,000 employees

Financial performance
Then: $5.8 billion in quarterly sales and $227 million in quarterly profit.
Now: $7.3 billion in quarterly sales and $259 million quarterly profit.

Ingersoll Rand
Local connection
Operates Club Car manufacturing plant and headquarters in Evans.

Stocks
Price on Sept. 15, 2008: $34.18
Price on Sept. 16, 2013: $64.53

Jobs
Then: 60,000 employees
Now: 49,000 employees

Financial performance
Then: $4.3 billion in quarterly sales and $227 million in quarterly profit.
Now: $3.9 billion in quarterly sales and $317 million in quarterly profit.

Textron
Local connection
Operates E-Z-Go manufacturing plant and headquarters in Augusta.

Stocks
Price on Sept. 15, 2008: $36.27
Price on Sept. 16, 2013: $29.05

Jobs
Then: 43,000 employees
Now: 33,000 employees

Financial performance
Then: $3.5 billion in quarterly sales and $206 million in quarterly profit.
Now: $2.8 billion in quarterly sales and $113 million quarterly profit.

Bridgestone
Local connection: 
Operates a passenger-tire-manufacturing facility in Graniteville and is constructing an off-road-tire plant nearby.

Stocks
Price on Sept. 15, 2008: $38.00
Price on Sept. 16, 2013: $70.05

Jobs
Then: 137,900 employees
Now: 143,400 employees

Financial performance
Then: 797 billion yen in quarterly sales and 22 billion yen in quarterly profit.
Now: 794 billion yen in quarterly sales and 43 billion yen quarterly profit.

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Roscoe69
2
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Roscoe69 09/29/13 - 09:33 am
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Chart in paper

I see that the correct dates are included in this online version that were not reflected in the print edition. How about a correction note on this article that notes a previous version was published? Also, why not convert the Yen for Bridgestone to dollars? For comparison. Thanks for your efforts to improve business news.

Connor Threlkeld
1267
Points
Connor Threlkeld 09/29/13 - 07:19 pm
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Roscoe, unfortunately, we

Roscoe, unfortunately, we noticed the problem with the business page after about 20,000 papers had been printed this morning. The correct information was sent online, but when the table was being designed for the printed page, the error was made. We're looking into the issue of needing a correction right now.

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