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:
“I am not a literary man.... I am a man of science, and I am interested in that branch of Anthropology which deals with the history of human speech.”
—J.A.H. (James Augustus Henry)
“If usually the “present age” is no very long time, still, at our pleasure, or in the service of some such unity of meaning as the history of civilization, or the study of geology, may suggest, we may conceive the present as extending over many centuries, or over a hundred thousand years.”
—Josiah Royce (1855–1916)
“English history is all about men liking their fathers, and American history is all about men hating their fathers and trying to burn down everything they ever did.”
—Malcolm Bradbury (b. 1932)