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:
“We may pretend that we’re basically moral people who make mistakes, but the whole of history proves otherwise.”
—Terry Hands (b. 1941)
“If man is reduced to being nothing but a character in history, he has no other choice but to subside into the sound and fury of a completely irrational history or to endow history with the form of human reason.”
—Albert Camus (1913–1960)
“This above all makes history useful and desirable: it unfolds before our eyes a glorious record of exemplary actions.”
—Titus Livius (Livy)