Company History
Scaled Composites was established in 1982 and purchased by the Beech Aircraft Corporation in 1985, as a result of the collaboration on the Starship project. In 1988, Beech's parent company, Raytheon, sold Scaled back to Rutan, who then sold it to Wyman-Gordon. After Wyman-Gordon was acquired by Precision Castparts Corp., Rutan and ten investors re-acquired the company as Scaled Composites, LLC. Northrop Grumman, a major shareholder in the company with a 40% stake, said it would acquire the company outright on July 20, 2007. Both companies said Northrop Grumman's acquisition would not affect Scaled Composites' strategy or involve replacing Burt Rutan as senior manager. The acquisition by Northrop Grumman was completed on August 24, 2007. Rutan retired in April 2011.
Read more about this topic: Scaled Composites
Famous quotes containing the words company and/or history:
“I have noticed that doctors who fail in the practice of medicine have a tendency to seek one another’s company and aid in consultation. A doctor who cannot take out your appendix properly will recommend you to a doctor who will be unable to remove your tonsils with success.”
—Ernest Hemingway (1899–1961)
“I think that Richard Nixon will go down in history as a true folk hero, who struck a vital blow to the whole diseased concept of the revered image and gave the American virtue of irreverence and skepticism back to the people.”
—William Burroughs (b. 1914)