History and Expansion of the Corporation
– Segal Lock and Hardware Company was established in Connecticut and Manhattan in the 1920s.
– The company relocated to Brooklyn, New York in the mid-1920s.
– In 1926, Segal purchased a square block in Brooklyn for use as a factory and foundry.
– The company owned two large factory buildings, a foundry, and a machine shop on the property.
– Segal planned to add three more large buildings at an approximate cost of $500,000.
Acquisitions and Product Development
– In 1929, Segal acquired a controlling interest in the Norwalk Lock Company and the Universal Razor Blade Corporation.
– The corporation introduced a single-unit safety razor in late 1930.
– The following year, Segal launched the Unimatic Segal Razor, a one-piece razor that accepted a double-edged blade.
– In 1931, the company entered into a contract with United Cigar Stores to feature and distribute Segal razors and blades.
– In 1947, Segal Lock and Hardware Company acquired Strauss Fasteners Inc.
Litigation
– In 1931, Segal Lock and Hardware Company sued Gillette for $2,000,000 in a loss of blade contract, claiming a violation of the Clayton Antitrust Act.
– A subsequent suit resulted in an agreement between Segal and Gillette, with Segal discontinuing the manufacture of blades that infringed the Gillette patent.
– Segal continued to manufacture its own razors and blades that fit their own razors.
– However, they were forced to discontinue making blades that also fit Gillette razor handles.
References
– Lock Company Buys Factory In Brooklyn, New York Times, August 19, 1926.
– Pay On Bonus Basis Voted Gillette Chief, New York Times, June 11, 1931.
– Mrs. Samuel Segal Dies, New York Times, July 5, 1957.
– Segal Lock Sells Stock, New York Times, November 16, 1927.
– Segal Lock Plans Issue, New York Times, August 21, 1929.
External Links
– SegalLock.com – Official site
– Samuel Segal Patents
– Retrieved from https://en.wikipedia.org/w/index.php?title=Segal_Lock_and_Hardware_Company&oldid=1128694013Sources: https://en.wikipedia.org/wiki/Segal_Lock_and_Hardware_Company
