Econosto: from family company to stock exchange

 

 

In the late 1960s to the early 1970s, scaling-up was the answer to the need for maintaining the level of economic growth in many business sectors. The result was a wave of mergers throughout the Netherlands. Large companies bought suppliers up, so that they could have the whole chain of activities in one hand. There were also plenty of buyers for Econosto.Econosto was a considerable company that others wanted a piece of. To protect the company against this, it was necessary to go to the stock exchange in 1968. In this way, Econosto was able to acquire the finances to buy a block of shares that threatened to fall into ‘hostile hands’. Going to the stock exchange appeared to be the basis for maintaining its independence and for further expansion. On 12 September 1992, Econosto celebrated its 100th anniversary. For the occasion, Her Majesty the Queen bestowed the title of “Royal” on the company. Even for the sober-minded people of Rotterdam, this was a joyful event, which again confronted everyone with the obligation of correctly managing the legacy of the founders.