Martin Marietta

Summary

The Martin Marietta Corporation was an American company founded in 1961 through the merger of Glenn L. Martin Company and American-Marietta Corporation. In 1995, it merged with Lockheed Corporation to form Lockheed Martin.

Martin Marietta Corporation
IndustryManufacturing
PredecessorGlenn L. Martin Company
American-Marietta Corporation
Founded1961; 61 years ago (1961)
Defunct1995; 27 years ago (1995)
FateMerged with Lockheed Corporation
SuccessorLockheed Martin
Martin Marietta Inc.
HeadquartersBethesda, Maryland

HistoryEdit

Martin Marietta formed in 1961 by the merger of the Glenn L. Martin Company and American-Marietta Corporation.[1]: 356 

Martin, based in Baltimore, was primarily an aerospace concern with a recent focus on missiles, namely its Titan program. American-Marietta was headquartered in Chicago and produced paints, dyes, metallurgical products, construction materials, and other goods.[2][3][4][5]

In 1982, Martin Marietta was subject to a hostile takeover bid by the Bendix Corporation, headed by William Agee. Bendix bought the majority of Martin Marietta shares and in effect owned the company. However, Martin Marietta's management used the short time separating ownership and control to sell non-core businesses and launch its own hostile takeover of Bendix (known as the Pac-Man defense).[6][7] Thomas G. Pownall, CEO of Martin Marietta, was successful and the end of this extraordinarily bitter battle saw Martin Marietta survive; Bendix was bought by Allied Corporation.[7][8][9]

TimelineEdit

ProductsEdit

AircraftEdit

Missiles and rocketsEdit

SpacecraftEdit

Unmanned aerial vehiclesEdit

See alsoEdit

ReferencesEdit

  Media related to Martin Marietta at Wikimedia Commons

  1. ^ Harwood, William B (1993). Raise Heaven and Earth. New York, New York: Simon & Schuster. ISBN 0-671-74998-6. Retrieved 2022-04-24.
  2. ^ "Advertisement: American-Marietta". Milwaukee Sentinel. September 24, 1957. p. 12-part 1.[permanent dead link]
  3. ^ "Marietta, Martin eye consolidation". Milwaukee Sentinel. Associated Press. June 24, 1961. p. 9-part 2.
  4. ^ "American-Marietta, Martin plan merger". Milwaukee Journal. June 24, 1961. p. 13.[permanent dead link]
  5. ^ "Martin, Marietta approve merger". Milwaukee Sentinel. Associated Press. October 10, 1961. p. 8-part 2.[permanent dead link]
  6. ^ "Bendix board rejects Martin Marietta offer". Palm Beach Post. Associated Press. September 1, 1982. p. A8.[permanent dead link]
  7. ^ a b Oliver, Myrna (July 3, 2005). "Wall Street folk hero dies". Seattle Times. (Los Angeles Times). Retrieved February 12, 2013.
  8. ^ Burns, Robert (September 23, 1982). "Allied Corp. enters the race to take over Bendix Corp". Kentucky New Era. Hopkinsville, KY. Associated Press. p. 19.
  9. ^ Burns, Robert (September 25, 1982). "Allied, Bendix, Marietta clinch deal". Free Lance-Star. Fredericksburg, VA. Associated Press. p. 9.
  10. ^ "General Dynamics Sells Atlas Rocket Unit". Los Angeles Times. Retrieved 25 September 2014.
  11. ^ The Founding of Lockheed Martin", official website of Lockheed Martin Corp., retrieved December 4, 2017