Martin Marietta
 | |
| Industry | Manufacturing |
|---|---|
| Predecessors | |
| Founded | 1961 |
| Defunct | 1995 |
| Fate | Merged with Lockheed Corporation |
| Successors | |
| Headquarters |
, United States
|
Key people |
Hans Multhopp |
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.
History
Martin Marietta formed in 1961 by the merger of the Glenn L. Martin Company and American-Marietta Corporation.
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). American-Marietta was headquartered in Chicago and produced paints, dyes, metallurgical products, construction materials, and other goods.
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). 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.
Timeline
- 1961: Martin Marietta formed by merger of the Glenn L. Martin Company and American-Marietta Corporation
- 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 1971-1989
- 1971: Martin Marietta loses landmark sex discrimination suit before the Supreme Court, in Phillips v. Martin Marietta Corp.
- 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
- 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
- 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
- 1996: Lockheed Martin splits off Martin Marietta Materials as a separate and independent entity