LeTourneau Tech's NOW, Volume 8, Number 8, April 15, 1954 Page: 4
5 p. : ill.View a full description of this periodical.
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Annual Report
EDITOR'S NOTE : The following col-
umn is reprinted from this year's annual
report to the stockholders of the LeTour-
neau Company.
First, let me say that contrary to
the thinking of some of our former
stockholders, and others perhaps, we
are still very much in business.
The entire business, including the
four factories in the United States,
was offered to the Westinghouse Air
Brake people, but they chose to buy
only two of the four plants, and left
R. G. LeTourneau, Inc. with two
plants and the right to build mach-
inery whose principal use is not for
earthmoving, with R. G. LeTourneau,
Inc. specifically reserving the right to
their patents for other than earth-
moving equipment, and to build sta-
tionary and traveling cranes, land
clearing machines and equipment,
trackless Diesel Electric trains, log-
ging equipment, and components, etc.
--The Company is continuing-and-ex-
panding its operations at its Vicks-
burg, Mississippi and Longview,
Texas plants; further developing,
manufacturing, and distributing elec-
trically powered a n d controlled
equipment, land clearing and logging
equipment, stationary and traveling
cranes, and other products not pri-
marily used in the earthmoving field;
manufacturing special products for
the United States Government; and
also plans to continue development
work on the Diesel Electric trackless
train designed for travel over rough
terrain, and to develop new lines of
products.
This deal has nearly doubled the
book value of your stock. The reces-
sion boys are still howling, but the
world is still clamoring for mach-
inery, and if I can make as much
improvement in several other lines
as I have done in earthmoving, we
will keep the wolf from the door
nicely.
As I travel the less fortunate parts
of this world, I see an awful lot to
be done yet. I expect to have a lot of
fun doing as much of it as I can,
and when this life is over, as the
Negro spiritual goes, "I'm going to
walk all over God's Heaven," and I
hope you can walk with me.L
I
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LeTourneau Technical Institute. LeTourneau Tech's NOW, Volume 8, Number 8, April 15, 1954, periodical, April 15, 1954; Longview, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1526759/m1/4/: accessed June 11, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting LeTourneau University Margaret Estes Library.