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Marmon Group

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Marmon Group
Company typeSubsidiary
IndustryTransportation equipment, electrical and other industrial components; construction, food, beverage & water, and retail services
FoundedUnited States (1953 (1953), as Colson Corporation)
Headquarters
181 West Madison Street
Chicago, Illinois,
Key people
Frank Ptak (CEO)
OwnerBerkshire Hathaway
Websitewww.marmon.com

Marmon Group is an 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 a 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

The following is a partial list of subsidiaries of the Marmon Group, as of this date:[when?][citation needed]

References

  1. ^ [1] Archived December 23, 2008, at the Wayback Machine
  2. ^ Bajaj, Vikas (2007). "Rapidly, Buffett Secures a Deal for $4.5 Billion" (online, print). New York Times (December 26). Retrieved July 21, 2009.
  3. ^ "Berkshire's Corporate Performance vs. the S&P 500" (PDF). Berkshirehathaway.com. Retrieved 2016-01-20.




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