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Callaway Golf Company

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Callaway Golf Company is an American golf company based in Carlsbad, California. They manufacture woods, irons, wedges, putters and golf balls and license its name for apparel, footwear, timepieces and accessories. Callaway Golf also owns and manufactures products under the Odyssey putter brand and Top-Flite and Ben Hogan golf brands.

History

Callaway Golf Company was founded by former Burlington Industries textile president, Ely Reeves Callaway, Jr. Ely was raised in Georgia and was a 1940 graduate from Emory University. Callaway became very successful in the textile industry and was very fond in playing golf. At games, Callaway would use clubs by Hickory Sticks. The clubs were constructed of hickory-shafts with a steel core. At that time, Hickory Sticks was owned by Richard Parente and Dick De La Cruz. As Hickory Sticks started running low on funds, they sought investors to help the company and approached Callaway. At the time, he had just sold his vineyards for a $9 million profit. Then in 1982, he bought half of Hickory Sticks, the company was renamed to Callaway Hickory Stick USA. In 1984, Callaway bought the rest of the company for $400,000. In 1983, he became president and moved the company to Carlsbad, California where he sold clubs out of his Cadillac. The company eventually changed to its present name in 1988. [1]

In 1986, Callaway hired a billiard cue designer, Richard C. Helmstetter, as a consultant. Helmstetter later became chief club designer that same year and introduced computer-controlled manufacturing machines. With his help, the company developed the original Big Bertha driver using large-volume (190cc) steel clubhead. The Big Bertha driver grew to 290cc in 1997.[2]

In 1996, the company hired Roger Cleveland as chief club designer and in 2002, launched the Callaway Golf Forged Wedges. These wedges were constructed from carbon steel and a face with modified U grooves.[3]

In that same year, Callaway announced the development of a new golf ball. Callaway Golf spent three years developing its new golf ball and a state-of-the-art production facility. The company’s entry into the market represented a $170 million investment in the research and development of the ball, construction of the 225,000-square-foot production facility, and development and purchase of special manufacturing equipment. Callaway’s manufacturing facility and its equipment were designed specifically for the unique production requirements for the new ball.

Callaway Golf Ball Company engineers, recruited from Du Pont and Boeing, used aerodynamic computer programs (first used by Boeing and General Electric) to evaluate more than 300 dimple patterns and more than 1,000 variations of ball cores, boundary layers, and cover materials to create the new Rule 35 ball. Callaway engineers designed only two models of the Rule 35 ball—choosing to develop a "complete-performance" ball rather than separate balls developed for spin, control, distance, and durability. Ely Callaway explained the company’s product development objectives as follows: "We have combined all of the performance benefits into one ball so players no longer need to sacrifice control for distance, or feel, or durability. Each Rule 35 ball contains a unique synergy of distance, control, spin, feel and durability characteristics. This eliminates confusion and guesswork in trying to identify the golf ball that is right for each individual golfer."[4]

In 1997, Odyssey Sports was acquired expanding Callaway's line of putters. This eventually led to the release of the Odyssey White Hot putter line in 2000.

Ely Callaway resigned in 1996 stepping aside for Donald H. Dye to take over as CEO and President, but Callaway would continue to be part of the company in a promotional role. He later returned in 1998 to reassume his leadership position but died of pancreatic cancer on May 15, 2001 which left the position to Ron Drapeau.[5]

In 2003, Ron Drapeau, announced the acquisition of Top-Flite[6] as well as its Ben Hogan Golf division soon after it filed for Chapter 11. The acquisition would cost Callaway Golf approximately $125 million.

Financial

In 1992, Callaway Golf went public on the New York Stock Exchange.

The Company announced a dividend of $.07 per share, payable September 20, 2007, to shareholders of record as of September 6, 2007. [7]

Players using Callaway equipment

PGA Tour


European Tour

Champions Tour

Nationwide Tour

LPGA Tour

Legends

Source

Current products

Drivers

  • FT-i & FT-i Tour Drivers
  • FT-5 & FT-5 Tour Drivers
  • Big Bertha 460 Driver
  • X460 & X460 Tour Drivers

Fairway Woods

  • Fusion Fairway Woods
  • Big Bertha Fairway Woods
  • X Fairway Woods
  • X Hot Fairway Woods

Hybrids

  • FT Hybrid
  • X Hybrid
  • Big Bertha Heavenwood Hybrid

Irons

  • Fusion Irons
  • Fusion Wide Sole Irons
  • X-20 Irons
  • X-20 Tour Irons
  • X Forged Irons
  • Big Bertha Irons

Wedges

  • X-Tour Wedges

Balls

  • HX Tour
  • HX Tour 56
  • HX Hot
  • HX Pearl
  • Big Bertha
  • Warbird

Source

References

  1. ^ http://www.sportsline.com/golf/story/10148987
  2. ^ http://www.fundinguniverse.com/company-histories/Callaway-Golf-Company-Company-History.html
  3. ^ http://www.iwantgolf.com/inica1forgwedge.html
  4. ^ http://www.mhhe.com/business/management/updates/thompson12e/case/callaway6.html
  5. ^ http://www.infoplease.com/ipa/A0884345.html
  6. ^ http://findarticles.com/p/articles/mi_m0EIN/is_2003_June_30/ai_104537531
  7. ^ "Callaway Golf Company Declares Dividend".
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