In 1962, a new generation of family management assumed leadership roles and developed plans to diversify. The first step was to redirect utilization of the company’s considerable coal reserves from actually operating the capital-intensive, cash-demanding mines to leasing those mines and reserves to others.
This redeployment of coal assets produced considerable cash flow which was then used to establish a significant presence in other industries.
Growth Through Decentralization
In recent years, Berwind has grown significantly as new companies have joined the group. Despite marked differences in areas of operation, these new companies have shared at least two crucial characteristics: one, significant market share, often in a niche market; and two, management with a strong entrepreneurial focus. The result is Berwind’s diverse enterprises, delivering quality products and services while maintaining consistent growth.