Marmon Group
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| Company type | Subsidiary |
|---|---|
| Industry | Transportation equipment, electrical and other industrial components; construction and retail services |
| Founded | United States (1953, as Colson Corporation) |
| Headquarters | |
Key people | Frank Ptak (CEO) |
| Owner | Berkshire Hathaway |
| Website | www.marmon.com |
Marmon Group is a industrial United States holding company headquartered in Chicago, Illinois; founded by Jay Pritzker and Robert Pritzker in 1953 (as Colson Corporation), it has been held by the Berkshire Hathaway group since 2013.[not verified in body] It owns companies that produce transportation equipment, electrical components, and other industrial components,[not verified in body] and companies that provide services in the construction and retail sectors.[not verified in body] Tank car manufacturing is significant part of its business,[not verified in body] products which are sold through its subsidiaries Union Tank Car Company in the United States,[not verified in body] and Procor in Canada.[not verified in body] Berkshire Hathaway, which owns the second largest freight railroad carrier in North America, BNSF Railway,[not verified in body] acquired controlling interest in Marmon in 2007, and became sole owner in six years later.
Origin and history
In 1953, Jay Pritzker and Robert Pritzker acquired Colson Corporation.[citation needed] The name of the company was changed to Marmon Group in 1964, after the acquisition of Marmon-Herrington.[1][better source needed] Major acquisitions by Marmon Group have included Cerro Corporation (1976),[citation needed] and TransUnion (1981).[citation needed] In 2007, the Pritzker family sold a 60 percent interest in Marmon Group to Berkshire Hathaway, with plans for Berkshire to acquire the remaining 40% over the course of the next 5-6 years;[2] the remaining minority stake was purchased by Berkshire in 2013.[3][better source needed]
Subsidiaries
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The following is a partial list of subsidiaries of the Marmon Group, as of this date:[when?][citation needed]
References
- ^ [1] Template:Wayback
- ^ Bajaj, Vikas (2007). "Rapidly, Buffett Secures a Deal for $4.5 Billion" (online, print). New York Times (December 26). Retrieved July 21, 2009.
- ^ "Berkshire's Corporate Performance vs. the S&P 500" (PDF). Berkshirehathaway.com. Retrieved 2016-01-20.
External links
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