Salvador Vassallo (businessman)
| Salvador V. Vassallo Ruiz | |
|---|---|
Salvador "Chiry" Vassallo
|
|
| Born | March 24, 1942 Ponce, Puerto Rico |
| Died | January 21, 2007 (aged 64) Ponce, Puerto Rico |
| Nationality | Puerto Rican |
| Occupation | Industrialist |
Salvador V. Vassallo Ruiz, nicknamed Chiry (March 24, 1942 – January 21, 2007) was the president and CEO of Vassallo Industries, headquartered in Ponce, Puerto Rico. The company produces PVC injection moulded and extruded goods, and markets them worldwide.
Born as Salvador V. Vassallo Ruiz, his grandparents migrated from Italy in the late 19th century and settled in the town of Yauco. Vassallo and his brothers were born in Yauco and raised in the City of Ponce where their father, Salvador Vassallo Sr., opened a hardware store.
After school hours, Vassallo and his brothers, Efraín, Víctor, Félix, and Marcos, would work in the family business. Salvador Vassallo Sr. founded Vassallo Industries, Inc., a company which initially made only windows and cement blocks.
After Vassallo graduated from college, he went to work in as a salesman for his father's business. Traveling throughout Puerto Rico taking orders from established customers, he made new contacts with potential customers. These skills would serve him well when Vassallo and his brothers inherited the business. In the 1950s, Vassallo's brother Efrain David, an engineer and the oldest of the Vassallo brothers, saw the potential in plastic.
As a consequence of Efrain's vision, in 1962 Vassallo Industries Inc. pioneered the manufacture and distribution of plastic pipe and fittings for sanitary and electrical applications. In 1972, Salvador Vassallo Sr. died and the company was inherited by his sons. Efrain David was President and Chief Executive Officer of Vassallo Industries Inc. from 1978-89. During those 11 years the firm had a net profit of over $25 million, as audited by Deloitte, Haskins & Sells, 1978-89.
In 1989, Efrain David sold his interest in Vassallo Industries and all his patents to his brothers, and joined son Efrain David Jr., in the development of the Puerto Rican marble industry. Vassallo Industries, Inc., named Salvador as its president, and the company grew to become a global leader in the manufacture of PVC. Today, it has strong brand recognition in the United States and Latin-America. In the 1980s Vassallo opened a distribution Center in Miami, Florida, to speed up order fulfillment and cut costs.
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