Tyco International - Definition and Overview

Tyco International Ltd. (NYSE: TYC (http://www.nyse.com/about/listed/lcddata.html?ticker=TYC)) is a Bermuda-based conglomerate. Major business areas include electronic components, health care, fire safety, security, and fluid control.

Tyco International should not be confused with the similarly named Tyco Toys, a division of Mattel.

In 1992 Dennis Kozlowski became CEO of Tyco, and for the next several years, Tyco went on an acquisition binge, acquiring (by some accounts) over 1000 other companies between 1991 and 2001. Its earnings seemed to improve steadily, but in hindsight this appears largely to have been an illusion generated by the ways in which the acquisitions were treated on the company's books.

Legal charges

Its former chairman and chief executive L. Dennis Kozlowski and former chief financial officer Mark H. Swartz, were accused of the theft of US $600 million from the company. During their trial in March 2004, they contended the board of directors authorized it as compensation.

During jury deliberations, one juror passing through the courtroom appeared to make an "okay" sign with her fingers to the defense table. She later denied she had intended that gesture. But the incident receive much publicity, and that juror received threats after her name became public. Judge Michael Obus declared a mistrial, April 2, 2004.

Products

Some of the many products made by Tyco include:

• Electronic components and cables
• Engineering services
• Fire sprinklers
• Medical supplies (Kendall wound care, Monoject syringes, Shiley endotracheal tubes)
• Plastic products
• Pharmaceuticals (leading producer of narcotics and acetaminophen), Mallinckrodt laboratory chemicals
• Security systems (ADT)
• Valves and related products

See also

• Corporate abuse

External links

• Tyco (http://www.tyco.com/)

Data

• Yahoo! - Tyco International Ltd. Company Profile (http://biz.yahoo.com/ic/11/11516.html)

Articles

• Forbes.com: Tyco's Goodwill Games (http://www.forbes.com/2002/06/13/0613tycaccount.html)