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Article: Waltham, Mass.-Based Technology Firm Announces Reorganization.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- January 31, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb. 1--Thermo Electron Corp., once a luminary of the Route 128 economy, yesterday announced a long-awaited restructuring that closes the door on its unusual strategy of "spinning out" businesses based on emerging technologies.
The company made a name for itself in the 1970s and 1980s with its policy of selling off minority stakes in its subsidiaries to public investors. But since the mid-1990s, the Waltham company has disappointed investors as it tried to juggle the complexities and poor financial performance of as many as two dozen such spinouts.
Yesterday, in a bid to streamline and get back on track, the company said it will split into three ...