Koch Industries Inc. – Company History

Koch Industries is a petroleum refiner and distributor. Along with its subsidiaries, the company is also involved in chemicals and fertilisers, pulp and paper, energy, minerals, ranching and the financial sector. Koch Industries is headquartered in Wichita, Kansas, USA.

The company was co-founded by Fred C. Koch, an MIT trained engineer, in 1940 as Wood River Oil and Refining Company. Koch had developed a method of converting heavy oil into gasoline. Prior to his death in 1967, he expanded the company into refining, engineering and ranching. Fred Koch’s son, Charles Koch, took over as CEO and renamed the company Koch Industries in honour of his father.

The company began an aggressive acquisition strategy throughout the 70s, 80s and 90s, specifically targeting refineries and pipelines, as well as entering other non-petroleum based industries. Charles Koch’s brother, David Koch, joined the company in 1970 and remains its Vice President.

With 120,000 employees, yearly revenue of $110 billion and operations in 50 countries, Koch Industries is the second-largest privately held company in North America.

  • Family name: Koch
  • Sector: Oil & Gas
  • Founded: 1940
  • Founder: Fred C. Koch
  • Country: Italy
  • Company headquarters: Wichita, KS
  • Managers: Charles and David Koch
  • Revenue: US$100 billion
  • Rankings: 4 [Fortune 500]
  • Family ownership: 84%
  • Employees: 100,000
  • Website: www.kochind.com

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