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The American Can Company was a manufacturer of tin cans. It was a member of the Tin Can Trust, that controlled a "large percentage of business in the United States in tin cans, containers, and packages of tin."[1] American Can Company ranked 97th among United States corporations in the value of World War II military production contracts.[2] During its peak of productivity, the American Can Company employed up to 800 people from the surrounding neighborhoods. It was a member of the Dow Jones Industrial Average from 1959 to 1991, though after 1987 it had renamed itself Primerica, a financial conglomerate which had divested itself of its packaging arm in 1986.
The American Can Company was incorporated in 1901.[4]
In 1904, the American Can Company of Greenwich, Connecticut bought the small Norton Can Company that had operated since 1887 at York and Bay Streets (Toronto, Ontario). The company expanded further in 1908 when it bought the Sanitary Can Company of Niagara Falls and the Acme Can Works in Montreal. For many years, the American Can Company was Canada's largest producer of tin cans.[5]
In 1957, Dixie cup merged with the American Can Company. In the early 1970s, American Can developed Fresh'n as a toilet paper competitor.[6]
The James River Corporation of Virginia purchased American Can's paper business in 1982. The assets of James River are now part of Georgia-Pacific, a subsidiary of Koch Industries, the second largest privately owned company in the United States.[7]
In 1985, Nelson Peltz's New York–based Triangle Industries bought the National Can Company for $460 million. The same year, it acquired the Dunham's Sports athletic store chain and made it part of its retail sector, which also included Musicland and Fingerhut.[8]
In 1986, it acquired the packaging division of Gerald Tsai's American Can Company for $570 million.
In 1987 American Can announced that it would change its 86-year-old name to "Primerica".[9]
In 1988, Pechiney S.A., the French metal conglomerate, acquired Triangle Industries. At the time of the buyout, American National Can was the largest can company in the United States.[10]Rexam acquired American National Can's metal can business in 2000.
American Can was formed as Phoenix Can commenced upon a Mergers and Acquisition program to consolidate competitors and named the newly created entity American Can.
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