Ling-Temco-Vought
1947 Jimmy Ling established an electrical construction and engineering firm in Dallas.
1956 the Ling Electric Company merged with L.M. Electronics of California - the name of the company was changed to Ling Electronics.
1959 Merger with Altec Electronics to form Ling-Altec.
1960 Ling-Altec merged with the Temco Electronics and Missile Company of Dallas. The new company, Ling-Temco, became one of the first major defence companies to be founded after World War II.
1961 Ling-Temco merged with the Chance Vought Aircraft Co. The company's name was again changed to Ling-Temco-Vought.
1966 In order to avoid over concentration in one field, Ling-Temco-Vought became interested in Wilson Foods, making fresh meats, as well as sporting goods and pharmaceuticals.
1968 Ling-Temco-Vought acquired the Greatamerica Corporation, the parent company for Braniff Airways, National Car Rental, and a number of insurance companies.
1969 The company was forced to divest itself of several divisions in order to generate enough cash to compensate for its growing debt.
1970 The board of directors voted to remove Ling from the chairmanship.
1971 Ling-Temco-Vought was renamed The LTV Corporation. Later that month the company acquired the remaining shares of Vought Aircraft from private investors. See LTV Aerospace Corporation
By 1977 LTV was reduced to three principal lines of business: steel (Jones & Laughlin), meatpacking (Wilson), and aerospace (Vought).
1978 Acquired Lykes Corporation, the parent company of Continental-Emsco, a petroleum equipment supply and service company.
1981 LTV attempted to perform a similar expansion of its aerospace division by taking over the Grumman Corporation but this was successful when confronted with oppostion from many sides.
1983 LTV sold the Lykes Steamship division and reorganized the remaining subsidiaries into three product-oriented divisions. The Vought Corporation was combined with a number of smaller divisions and renamed the LTV Aerospace & Defense Company. In addition, Continental-Emsco became the LTV Energy Products Company.
1884 Acquired Republic Steel
1986 Went into Chapter 11 bankruptcy protection.
1993 Emerged from Chapter 11, essentially as a steel producer
See Also
Sources of Information
- [1] Company history