Société BIC

Société Bic
Société Anonyme
Traded as BB
Industry Consumer Goods
Founded Clichy, France (1945 (1945))
Founder(s) Marcel Bich
Edouard Buffard
Headquarters Clichy, France
Area served Worldwide
Key people Bruno Bich, Chairman
Mario Guevara, CEO
Revenue Increase1.5627 billion (2009)[1]
Operating income Increase€216.0 million (2009)[1]
Net income Increase€151.7 million (2009)[1]
Total assets Increase€2.0291 billion (2009)[1]
Total equity Increase€1.3040 billion (2009)[1]
Employees Increase10,449 (2009)[1]
Website BICWorld.com



Société Bic (commonly referred to just as Bic) is a company based in Clichy, France.[2] It was founded in 1945 by Baron Marcel Bich and has become known for making disposable consumer products such as lighters, magnets, ballpoint pens, shaving razors, printed paper products[3] and watersports products. The brand's lighters have changed little since 1972. They, as well as the Bic Cristal ballpoint pen, are easily recognizable as a result of their importance in pop culture. As such, they are represented in the design collection of the Museum Of Modern Art in New York. The company competes in most markets against Faber-Castell, Global Gillette, Newell Rubbermaid and Schwan-Stabilo.[4] The Bic pen, more correctly the Bic Cristal, was the company's first product. [5][6]

Ownership

The company went public in 1958 with a reverse merger into the older Waterman Pen Company of Seymour, Connecticut, in the United States, and later sold off the older operation.[7] The Bich family owns about 40 percent of Bic stock and controls 55% of its voting power.

In June 2010, Bic sold its funeral products division to Prairie Capital, a Chicago based private equity firm.[8]

United States subsidiary

After buying the Waterman Pen Company in Seymour, Connecticut in 1958, Bic needed a larger space for its U.S. headquarters and manufacturing operation, so the headquarters was moved to nearby Milford, Connecticut, where it remained on a road eventually renamed "Bic Drive" until 2008, when the headquarters moved to Shelton, Connecticut. A lighter factory remains on the Milford site.[9]

The company's U.S. subsidiary, BIC Corporation, accounts for more than half of the worldwide company's sales. Both Bruno Bich, the current chairman of the board, who rose through the ranks in the U.S. organization, and Mario Guevara, the current chief executive officer, worked in the American subsidiary for several years.[10]

History of slogans

"Flick your bic"[11]

Sponsorship

Bic sponsored a professional cycling team in the 1960s led by Tour de France winners Jacques Anquetil and Luis Ocaña.[12] Bic also sponsored the Alain Prost–led Prost Grand Prix team in Formula One from 1997 to 2000.

Notes and references

External links

  • BIC World—Company website
  • Yahoo! Finance
  • BICSurf
  • BIC watersports
  • BIC Everyday website for students, teachers and parents
  • BIC Graphic USA

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