UV Industries, Inc.
UV Industries, Inc.
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Product Details
CompanyUV Industries, Inc.
Certificate Type
Common Stock
Date Issued
1970's
Canceled
Yes
Printer
Security-Columbian/United States Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) x 8" (h)
Images
Representative of the piece you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
Between 1908 and 1972, UV Industries, Inc. was known as the United States Smelting, Refining, & Mining Company.
The company changed its name to UV Industries, Inc. to better reflect the diversified nature of the company and to signal that mining was no longer their core business.
As early as September 1976, Victor Posner's Sharon Steel Company held as much as 20 percent of UV Industries stock. Posner held the same percentage by early December 1977 when he began his hostile takeover by buying shares of UV Industries, following his pattern of buying interest in companies that were undervalued in relation to their stock price. By late 1978, he had accumulated 22 percent, and continued his attempt at control of the company.
UV Industries announced that it had been approached by "several concerns with a view to a possible combination." UV Industries announced that the company would sell its most profitable subsidiary, Federal Pacific Electric Company, which during 1978, had accounted for 60 percent of UV's revenues and 81 percent of its profits. During the same time, UV's "metal mining" activities, which included United States Fuel and Utah Railway, along with its Mueller Brass subsidiary, accounted for 13 percent of profits and 38 percent of revenue. This action was to make UV Industries less attractive to Posner's hostile takeover. On January 19, 1979, UV Industries announced that it would liquidate all of its assets, again to stop Posner's hostile takeover. Two months later, the company sold its Federal Electric subsidiary to Reliance Electric for $345 million in cash. A month earlier, UV had announced to its shareholders its intended action to sell its subsidiaries and liquidate its assets. On March 26, 1979, the shareholders approved the intended actions.
On October 2, 1979, UV sold its oil and gas properties to Tenneco Oil Company for $135 million in cash.
In November of 1979, the company sold the United States Fuel mine at Hiawatha, and the Utah Railway, along with other assets, to Sharon Steel Company. UV Industries had been holding talks earlier with Reliance Group, but those talks broke down. A group of railroad employees had hoped to be able to buy the railroad. The announced sale brought those hopes to an end. Sharon Steel purchased the remaining assets of UV Industries that same month and the dismantling was complete.
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Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only. Â
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive. Â
How will you ship my order and how much do you charge?Â
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?Â
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, weâll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.