In 1957, the company changed from a partnership to reorganize as Betz Laboratories, Inc. Two years later, while serving as chairman of the board, William H. Betz died; L. Drew Betz became chairman, and John Drew became president. The company issued its first common stock in 1965 and became a public company. In the 1960s, Betz de Mexico was inaugurated and John J. Maguire became company the first non-family member to serve as company president, with L. Paul Heim serving as president and chairman of all European (international) operations. European operations (including a joint venture with the British B.T.I. Chemicals Limited) were reorganized into Betz International, Inc.. By 1972, "Betz International" established operations in Central and South America, the Caribbean, Africa, the Middle East, and parts of Asia, including Taiwan. An Austrian office was established for serving Eastern Europe. During this time, L. Paul Heim declined an offer from the Board to serve as International President and Chairman. Heim sold his holdings in Betz International and retired to Southern California to head a private equity firm. The company's consulting division expanded during the later 1960s and early 1970s by acquiring "Albright & Friel", a consulting firm, and "Fridy-Gauker & Fridy", a planning and architectural company. In 1971 the consulting division became "Betz Environmental Engineers". Consulting promoted the uses and benefits of Betz's product line of bulk chemicals. By 1975 consolidated sales surpassed $100 million as compounded annual earnings growth reached 20 percent. The Clean Air Act of 1970, as well as the "Agreement on Cooperation in the Field of Environmental Protection" of the Moscow Summit (1972), created a constructive environment for the pollution control industry. The 1970s energy crisis and the rise in fuel costs served to promote Betz's products: Scale deposits on boilers increased fuel bills; Betz's products removed scale deposits and lowered maintenance and operating costs. Betz continued to control 18 percent market share during 1984 and sustained sales serving basic plant maintenance functions. At the time, 75 percent of the U.S. market for water treatment chemicals was used by fewer than 12 companies. These customers represented four heavy industries, including oil refineries, petrochemical plants, and steel and paper mills, at a time when overproduction affected the petrochemical and paper industries and domestic steel companies and oil refineries were in decline. CEO John F. McCaughan focused on securing new markets and consolidating business in the 'middle' market, such as the auto and textile industries.