Only a year ago, International Harvester's President John L. McCaffrey, told shareholders: "We have established a solid footing in the highly competitive refrigeration industry in the short time we have been a part of it." Last spring Harvester seemed on even solider footing, as it overhauled its refrigeration department, doubled the number of its regional sales offices and trumpeted that it was launching a multimillion-dollar sales program. Last week Harvester revealed that it had been treading on thin ice all along: it quit the freezer business. The company sold its 962,000-sq. ft. Evansville, Ind. refrigerator plant for $19 million...
To continue reading:
or
Log-In
