History
In January 1984, Hughes Helicopters, Inc. was sold to McDonnell Douglas by Summa Corporation. McDonnell Douglas paid $470 million for the company and made it a subsidiary with the name McDonnell Douglas Helicopter Systems in August 1984. In 1986, McDonnell Douglas sold all the rights to the Model 300C to Schweizer Aircraft.
On August 1, 1997, McDonnell Douglas merged with Boeing, but Boeing's plans to sell the civilian helicopter lines to Bell Helicopter in 1998 were thwarted by the US Federal Trade Commission (FTC).
In 1999, Boeing completed the sale of the civilian line of helicopters to MD Helicopter Holdings Inc., an indirect subsidiary of the Dutch company, RDM Holding Inc. The line included the MD 500 and variants as well as the family of derivative NOTAR aircraft that originated with Hughes Helicopters Inc. Boeing maintained the AH-64 line of helicopters, and rights to the NOTAR system.
After suffering dismal commercial performance, the company was purchased in 2005 by Patriarch Partners, LLC, an investment fund. The company was recapitalized as an independent company, MD Helicopters, Inc. MD Helicopters is based in Mesa, Arizona. The Chairman and Chief Executive Officer of MD Helicopters is Lynn Tilton, who is also the Chief Executive Officer and sole principal of Patriarch Partners, LLC.
Read more about this topic: MD Helicopters
Famous quotes containing the word history:
“What would we not give for some great poem to read now, which would be in harmony with the scenery,—for if men read aright, methinks they would never read anything but poems. No history nor philosophy can supply their place.”
—Henry David Thoreau (1817–1862)
“The history of American politics is littered with bodies of people who took so pure a position that they had no clout at all.”
—Ben C. Bradlee (b. 1921)