Word: canadair
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Dates: during 1950-1959
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...made his first move in 1947. Canada's huge government-owned aircraft industry, Canadair, seemed too heavy a peacetime investment for the Canadian government, and it was shopping for a buyer. Hopkins snapped up the two plants for only $2,500,000 cash, and every year since then Canadair has returned its original purchase price in profits. Though his company was still small, Hopkins searched around for a name that would better reflect his imaginative ambitions-and settled on General Dynamics...
...Presbyterian minister, provided the push and brilliance that built General Dynamics Corp. (1956 sales: $1 billion) into one of the postwar era's biggest industrial combines. A lawyer, California-born John Hopkins joined Electric Boat, predecessor of General Dynamics, as a director in 1937, engineered the acquisition of Canadair Ltd., a Canadian aircraft manufacturing company, and then took over major corporations-manufacturing everything from telephone equipment to airplanes-until he had made the new complex the seventh largest defense contractor to the U.S. Government...
...months, the government of Canada has debated whether or not to approve Israel's request to buy 24 of the hot F-86 Sabre jet interceptors built under U.S. license by Montreal's Canadair Ltd. Last week, after a gentle nudge from the U.S. and with the approval of France (which has already sold 24 Mystere IV jet fighters to Israel), Prime Minister Louis St. Laurent approved the sale...
...John Jay Hopkins wears many hats, and a feather in almost every one. When he took over eight years ago, the company-then known as Electric Boat-was coasting along with an annual sales volume of $26.9 million, mostly in submarines. Since then, he has picked up aircraftmakers Canadair Ltd. in Canada and giant Consolidated Vultee, changed the company name, expanded into guided missiles, atomic research and atomic submarines (the U.S.S. Nautilus), and boosted volume 25-fold (to $649 million last year). Last week Jay Hopkins put another feather in another hat. He announced that General Dynamics will diversify still...
FACING a slash in its budget, the Air Force is already pulling in its belt on noncombat planes. It canceled orders for 420 T36 trainers placed with Beech and Canadair, recalled 37 C-54 transports that it had leased to airlines. The Navy also canceled Temco Aircraft's "secondary source" contract for some 100 F3H-1 Demon jet fighters. McDonnell Aircraft, the primary supplier, was unaffected. Current backlog of all aircraft orders: $18 billion, enough to keep the industry busy for more than two years...