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.
 | |
| Industry | Manufacturing |
|---|---|
| Predecessors | |
| Founded | 1961 |
| Defunct | 1995 |
| Fate | Merged with Lockheed Corporation |
| Successors | |
| Headquarters | , United States |
Key people | Hans Multhopp |
History
editMartin 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. This program was established in 1955 when the company secured the U.S. Air Force contract to build the country's second intercontinental ballistic missile (ICBM).[2] American-Marietta was headquartered in Chicago and produced paints, dyes, metallurgical products, construction materials, and other goods.[3][4][5][6]
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).[7][8] 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.[8][9][10]
Timeline
edit- 1961: Martin Marietta formed by merger of the Glenn L. Martin Company and American-Marietta Corporation[11]
- 1963: Martin Marietta starts building floating nuclear power plant MH-1A as part of the Army Nuclear Power Program
- 1969: Martin Marietta commissioned to build the Mark IV monorail used on the Walt Disney World Monorail System between 1971 and 1989
- 1971: Martin Marietta loses landmark sex discrimination suit before the Supreme Court, in Phillips v. Martin Marietta Corp.[12]
- 1975: Acquires Hoskyns Group (UK IT services company)
- 1982: Bendix Corporation's attempted takeover ends in its own sale to Allied Corporation; Martin Marietta survives[13][14]
- 1986: Wins contract to convert Titan II ICBMs into space launch vehicles. The Martin Company built the original ICBMs
- 1987: Electronics & Missiles Group formed, headquartered in Orlando
- 1991: Electronics & Missiles Group reorganized into the Electronics, Information & Missiles Group
- 1993: Acquires GE Aerospace for 3 billion USD, allowing combined marketing of complementary systems, e.g. Martin Marietta's Titan missiles launching GE Aerospace's satellites
- 1993: Acquires management contract for Sandia National Laboratories
- 1993: Acquires General Dynamics' Space Systems Division, maker of the Atlas family of launch vehicles[15]
- 1994: Martin Marietta completed its initial public offering of 19% of the common stock of Martin Marietta Materials, which is listed on the New York Stock Exchange as MLM
- 1995: Martin Marietta merged with Lockheed Corporation to form Lockheed Martin[16]
- 1996: Lockheed Martin splits off Martin Marietta Materials as a separate and independent entity
Products
editAircraft
editMissiles and rockets
editSpacecraft
editUnmanned aerial vehicles
editSignificant components of vehicles
editSee also
edit
References
edit
Media related to Martin Marietta at Wikimedia Commons
- ^ Harwood, William B (1993). Raise Heaven and Earth. New York, New York: Simon & Schuster. ISBN 0-671-74998-6. Retrieved 2022-04-24.
- ^ Blevins, Tim (2011). Enterprise & Innovation in the Pikes Peak Region. Colorado Springs, CO: Pikes Peak Library District. p. 189. ISBN 978-1-56735-302-0.
- ^ "Advertisement: American-Marietta". Milwaukee Sentinel. September 24, 1957. p. 12-part 1.[permanent dead link]
- ^ "Marietta, Martin eye consolidation". Milwaukee Sentinel. Associated Press. June 24, 1961. p. 9-part 2.
- ^ "American-Marietta, Martin plan merger". Milwaukee Journal. June 24, 1961. p. 13.[permanent dead link]
- ^ "Martin, Marietta approve merger". Milwaukee Sentinel. Associated Press. October 10, 1961. p. 8-part 2.[permanent dead link]
- ^ "Bendix board rejects Martin Marietta offer". Palm Beach Post. Associated Press. September 1, 1982. p. A8.[permanent dead link]
- ^ a b Oliver, Myrna (July 3, 2005). "Wall Street folk hero dies". Seattle Times. (Los Angeles Times). Retrieved February 12, 2013.
- ^ Burns, Robert (September 23, 1982). "Allied Corp. enters the race to take over Bendix Corp". Kentucky New Era. Hopkinsville, KY. Associated Press. p. 19.
- ^ Burns, Robert (September 25, 1982). "Allied, Bendix, Marietta clinch deal". Free Lance-Star. Fredericksburg, VA. Associated Press. p. 9.
- ^ Danilov, Victor J. (2013). Famous Americans: A Directory of Museums, Historic Sites, and Memorials. Lanham, MD: Scarecrow Press. p. 75. ISBN 978-0-8108-9186-9.
- ^ "Discrimination Against Working Mothers Must End". news.bloomberglaw.com. Retrieved 2023-12-08.
- ^ Augustine, Norman R. (1997-05-01). "Reshaping an Industry: Lockheed Martin's Survival Story". Harvard Business Review. ISSN 0017-8012. Retrieved 2023-12-08.
- ^ Lane (2022). Representing Corporate Officers and Directors and LLC Managers [formerly Representing Corporate Officers, Directors, Managers, and Trustees], 3rd Edition (3rd ed.). New York: Wolters Kluwer. pp. 9–43. ISBN 978-1-5438-0529-1.
- ^ "General Dynamics Sells Atlas Rocket Unit". Los Angeles Times. 23 December 1993. Retrieved 25 September 2014.
- ^ The Founding of Lockheed Martin", official website of Lockheed Martin Corp., retrieved December 4, 2017