Martin Marietta
American manufacturing company From Wikipedia, the free encyclopedia
American manufacturing company From Wikipedia, the free encyclopedia
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 |
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. 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]
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