Industrialists: Conglomerate, London-Style

Most businessmen credit U.S. merg er makers with the invention of cor porate conglomerates — companies that grow by garnering others in unrelated fields. Not Britain's Leonard J. Matchan, 55, president and chairman of London-based Cope Allman Interna tional Ltd., who was in New York City last week to plug a venture in U.S.

women's fashions. Matchan grabbed a chance to stake a claim of his own. "I started all this conglomeration business eleven years ago," said he, "whereas you people only cottoned to it about a year ago."

Such U.S. corporations as Litton In dustries and Textron, which began play...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!