Martin Marietta
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Martin Marietta Corporation was founded in 1961 through the merger of The Martin Company and American-Marietta Corporation. The combined company became a leader in aggregates, cement, chemicals, aerospace, and electronics.
[edit] History
In 1982 Martin Marietta was subject to a hostile takeover bid by the Bendix Corporation. 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 (the Pac-Man Defense). The end of this extraordinarily bitter battle saw Martin Marietta survive and Bendix was bought by Allied Corporation.
[edit] Timeline
- 1961: Martin Marietta formed by merger of the Glenn L. Martin Company and American-Marietta Corporation
- 1982: Bendix Corporation's attempted takeover ends in its own sale to Allied Corporation, Martin Marietta survives.
- 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 General Electric Aerospace for $3bn, allowing combined marketing of complementary systems, e.g. Martin Marietta's Titan missiles launching GE Aerospace's satellites.
- 1993: Acquires management contract for Sandia Corporation.
- 1993: Acquires General Dynamics' space systems unit
- 1994: Martin Marietta completed its initial public offering of 19 percent 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
- 1996: Lockheed Martin splits off Martin Marietta Materials as a separate and independent entity.
