History
The company was founded in 1903 as Marconi's Wireless Telegraph Company of Canada by Guglielmo Marconi. In 1925 the company was renamed Canadian Marconi Company. In 1948 English Electric purchased the UK based Marconi Company and in 1953 acquired 50.6% of Canadian Marconi Company.
In 1968 English Electric was itself purchased by The General Electric Company plc (GEC), which took control of the 50.6% share of CMC.
On November 30, 1999 British Aerospace completed its purchase of GEC's Marconi Electronic Systems to form BAE Systems. In December 1999 BAE Systems purchased GEC's 51.6% share of CMC in a separate transaction. In February 2000 the company changed its name to BAE Systems Canada. In April 2001 ONCAP (an investment group comprising Onex Corporation and other investors) completed its purchase of BAE Systems Canada. This saw BAE Systems sell its then 54% majority share and ONCAP purchase the remaining 46% publicly held shares. The company was then renamed CMC Electronics since it had previously sold its rights for the Marconi name to Marconi plc. In 2007, after owning the company for 6 years, the investment time frame initially planned by ONCAP, CMC Electronics was sold to, and is now a wholly owned subsidiary of, the Esterline Corporation.
Read more about this topic: CMC Electronics
Famous quotes containing the word history:
“No event in American history is more misunderstood than the Vietnam War. It was misreported then, and it is misremembered now.”
—Richard M. Nixon (b. 1913)
“Culture, the acquainting ourselves with the best that has been known and said in the world, and thus with the history of the human spirit.”
—Matthew Arnold (1822–1888)
“No one can understand Paris and its history who does not understand that its fierceness is the balance and justification of its frivolity. It is called a city of pleasure; but it may also very specially be called a city of pain. The crown of roses is also a crown of thorns. Its people are too prone to hurt others, but quite ready also to hurt themselves. They are martyrs for religion, they are martyrs for irreligion; they are even martyrs for immorality.”
—Gilbert Keith Chesterton (1874–1936)