Molex connector pin extractor4/10/2023 Wood River was later renamed the Rock Island Oil & Refining Company. In 1946, the firm acquired the Rock Island refinery and crude oil gathering system near Duncan, Oklahoma. In 1940, Koch joined new partners to create the Wood River Oil and Refining Company. The project was stalled for some time as Davis sought approval, before it was approved personally by Adolf Hitler. It was also one of the few refineries capable of refining fuel for airplanes, and was a strategic bombing target for Allied forces. ![]() In a joint venture with William Rhodes Davis, Koch assisted in the design and construction of the third-largest oil refinery in Germany at the time. Winkler-Koch built refineries in Germany in the early 1930s. According to Charles Koch, "Virtually every engineer he worked with was purged." In his 1960 book, A Business Man Looks at Communism, Koch wrote that he found the USSR to be "a land of hunger, misery, and terror". During this time, Koch came to despise communism and Joseph Stalin's regime. Temporarily forced out of business in the United States, they turned to other markets, including the Soviet Union, where Winkler-Koch built 15 cracking units between 19. ![]() ![]() This process, which the company sold to many independent refineries in the United States, threatened the competitive advantage of established oil companies, which sued for patent infringement. In 1927, they developed a more efficient thermal cracking process for turning crude oil into gasoline. Winkler at an engineering firm in Wichita, Kansas, which was renamed the Winkler-Koch Engineering Company. The heirs of David Koch, who died on August 23, 2019, own the balance, 42%, of the corporation.Ĭharles Koch has stated that the company would go public "over my dead body" and that the company has used its freedom from the pressures of public markets to make long-term investments and concentrate on growth. Pierce Marshall Jr., own 16% of the company. Howard Marshall) and Elaine's children, Preston Marshall and E. Charles owns 42% of the company trusts for the benefit of Elaine Tettemer Marshall (the daughter in-law of J. Koch and William "Bill" Koch were bought out for $1.1 billion and Charles Koch and David Koch became majority owners in the company. In June 1983, after a bitter legal and boardroom battle over the amount of dividends paid by the company, the stakes of Frederick R. Koch died in 1967 and his majority interest in the company was split amongst his four sons. Koch, in 1940 after he developed an innovative crude oil refining process. The company was founded by its namesake, Fred C. The firm employs 122,000 people in 60 countries, with about half of its business in the United States. Koch owns Flint Hills Resources, Georgia-Pacific, Guardian Industries, Infor, Invista, KBX, Koch Ag & Energy Solutions, Koch Engineered Solutions, Koch Investments Group, Koch Minerals & Trading, and Molex. Its subsidiaries are involved in the manufacturing, refining, and distribution of petroleum, chemicals, energy, fiber, intermediates and polymers, minerals, fertilizer, pulp and paper, chemical technology equipment, cloud computing, finance, commodity market trading, and investments. ( / ˈ k oʊ k/) is an American privately held multinational conglomerate corporation based in Wichita, Kansas and is the second-largest privately held company in the United States, after Cargill. To comply with Wikipedia's lead section guidelines, please consider modifying the lead to provide an accessible overview of the article's key points in such a way that it can stand on its own as a concise version of the article. This article's lead section may not adequately summarize its contents.
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