Word: aerojet
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Dates: during 1950-1959
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...Mathieson Chemical Corp., a leader in rocket fuels, shot up 6| points in three days to a new high of 54. Reaction Motors, 50% owned by Olin, has nearly doubled in value in the past year; so has General Tire & Rubber Co., which owns 95% of another rocket enginemaker, Aerojet General Corp. Thiokol Chemical Corp. has trebled in value in a little over a year, hit $70.50 a share last week before backing...
Titan & Atlas. So far, most of the production-and most of the profit-has gone to two giants in the field: General Tire's Aerojet subsidiary and North American Aviation's Rocketdyne Division, both of which got in on the ground floor and today account for almost 75% of all the rocket-engine business. Founded in 1942 by Theodore von Karman, who now acts as a consultant, and a group of scientists at California Institute of Technology, Aerojet plodded along until 1945 when General Tire bought up 50% of its stock for a bargain $75,000, later increased...
...plant, the engines for the Thor and Jupiter intermediate missiles. From a start of five men in 1945, North American's Rocketdyne Division has expanded to 10,500 employees, and its sales of some $165 million (18% of North American's total) last year led the industry. Aerojet General is running a close second, sold $145 million worth of rocket engines last year, and figures to do even better in 1957 with $415 million in orders on its books...
...face of U.S. industry is changing as airframe manufacturers slow to develop missile lines are feeling the pinch, while the 17 contractors and 200 subcontractors on the ICBM program are booming to the point where, for example, one twelve-year-old newcomer named Aerojet-General has piled up a backlog of $400 million...
...have gone to new companies in the field. North American Aviation's Rocketdyne Division currently has 10,250 employees and contracts to power a fleet of big missiles, from the intercontinental Atlas to the Army's 200-mile Redstone. A second newcomer. California's Aerojet, owned by General Tire & Rubber Co., with 1956 sales of $140 million and a $300 million to $400 million backlog, is doing equally well; it proudly boasts that it makes the engine or engine parts for "practically every missile for all three services...