Endgame Clearinghouse on Forests & Corporations
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Subsidiaries, Interlocks, & Affiliations

In the age of acquisitions, mergers, and spin-offs, a corporation's subsidiaries, interlocks, and affiliations are constantly changing. This is especially true in the wood products and paper industries, where consolidation is taking place on across the globe. Click here for a list of mergers in the wood and paper products industry.

The best place to start may be the Directory of Corporate Affiliations, which is most useful for tracking the subsidiaries of both public and private corporations in the U.S. and around the world. Other useful reference sources include:

Directory of American Firms Operating in Foreign Countries.

Kompass directories. (Many versions for various countries).

Moody's Manuals.

Who Knows Who: Networking Through Corporate Boards. Berkeley, CA: Who Knows Who Publishers.

Worldscope database.

Worldwide Branch Locations of Multinational Companies.

Beware of the age of your source, and also beware that very few sources (including the corporation itself) will give you a list which includes every subsidiary.

Affiliations may include joint ventures, leases, contracts, and other arrangements which may not be listed in the published documents. You may become aware of then only through persistent monitoring of official documents, industry magazines, newspaper reports, and other literature.

Interlocks may be even less apparent. Direct first-level interlocks of directors may be found using the Compact Disclosure CD-ROM database to which many large libraries subscribe. Beware that corporations also influence each other through second-level interlocks, former board members, former employers, family ties, social club memberships, trade associations, and endless variety of political contributions -- all of which you may be able to trace only with difficulty.