Calgon Carbon Corporation Specimen Stock Certificate

Description

Calgon Carbon Corporation Specimen Stock Certificate
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Calgon Carbon Corporation was founded as the Pittsburgh Coke and Chemical Corporation in Pittsburgh, Pennsylvania. Initially the company manufactured products such as coke fuel in support of the local steel industry. Owned in part by the Pittsburgh "steel tycoon" J. Hartwell Hillman, Jr., in 1940 the company began operating a manufacturing plant on Neville Island. The United States government commissioned Pittsburgh Coke and Chemical to develop a new filtering agent for use in military gas masks in 1942. At the time coconut shells were typically used as the raw material to produce granular activated carbon (GAC) for mask filters, and Pittsburgh Coke and Chemical instead began producing a GAC product with bituminous coal.
The 1952 steel strike led to the company coming under the auspices of Harry Truman's controversial and short-lived Executive Order 10340, which ordered that steel industry facilities could be seized by the government to support the Korean War effort. Over a dozen other companies in Pittsburgh were affected by the order as well. Pittsburgh Coke and Chemical introduced their "Pittsburgh pulse bed" system in 1955, which was one of the first activated carbon systems to decolorize sugar. In 1956, Fortune Magazine ranked Pittsburgh Coke & Chemical as No. 488 on the Fortune 500, which lists fastest-growing US companies.
The company's activated carbon division developed new water treatment methods in 1960, and two years later the division installed 40,000 pounds of their carbon for the Virginia-American Water Co, a notable contract for the company. Also in the early 1960s the company began using their granular activated carbon (GAC) for removing tastes and odors.
In the early 1960s the Neville Island facility became the formation site of Pittsburgh Activated Carbon Company, the next evolution of the company. In 1965 the Calgon Corporation acquired Pittsburgh Activated Carbon. When Calgon Corporation was restructured in 1967 and split into six autonomous divisions, the Pittsburgh Activated Carbon Company division began operating its own marketing and manufacturing. Calgon Corporation was then acquired by Merck & Co. in 1968.
As of 1985, Calgon Carbon was operating as a subsidiary of Merck and Co. However, that year Calgon Carbon's management purchased their own company from Merck and Co in a leveraged buyout. Calgon Carbon made an initial public offering of common stock in 1987.
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