Corporate Disposition
Fairbanks Morse and Company merged with Penn-Texas Corporation in 1958 to form Fairbanks Whitney Corporation. Fairbanks Whitney was reorganized as Colt Industries in 1964, taking the name from Colt Manufacturing, the maker of firearms and an asset of Penn-Texas. In 1988 the Fairbanks Morse Pump division was sold off to private investors to become Fairbanks Morse Pump. It was subsequently purchased by Pentair as part of and acquisition of General Signal Pump Group in 1997. In 1988 the scale business was sold off by Colt Industries and became Fairbanks Scales, still an independent company.
In 1990, Colt Industries sold its firearms business to C.F. Holdings Corp as Colt's Manufacturing Company, Inc. and became Coltec Industries. Coltec merged with BFGoodrich corporation in 1999 and retained the BFGoodrich name. In 2002, as part of a series of divestitures of non-aerospace divisions, BFGoodrich spun off its engineered industrial products division as EnPro Industries, Inc. and became Goodrich Corporation. EnPro is now the parent company of Fairbanks Morse Engine.
As a result, there are now three companies using either the Fairbanks or Fairbanks Morse trademarks, with lineage to the original Fairbanks Morse and Company. Fairbanks Scale and Fairbanks Morse Pump claim lineage back to E & T Fairbanks Company.
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