Marmon Group

Marmon Group
Subsidiary
Industry Transportation equipment, electrical and other industrial components; construction and retail services
Founded United States (1953 (1953), as Colson Corporation)
Headquarters 181 West Madison Street
Chicago, Illinois,
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. It owns companies that produce transportation equipment, electrical components, and other industrial components, and companies that provide services in the construction and retail sectors. Tank car manufacturing is significant part of its business, products which are sold through its subsidiaries Union Tank Car Company in the United States, and Procor in Canada. Berkshire Hathaway, which owns the second largest freight railroad carrier in North America, BNSF Railway, 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. The name of the company was changed to Marmon Group in 1964, after the acquisition of Marmon-Herrington.[1] Major acquisitions by Marmon Group have included Cerro Corporation (1976), and TransUnion (1981). 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]

Subsidiaries

The following is a partial list of subsidiaries of the Marmon Group, as of this date:

References

  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.

External links



This article is issued from Wikipedia - version of the Monday, February 08, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.