Word: canadair
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Canadian Vickers Ltd. has not had any interest in Canadair Ltd., which has operated the factory since November...
...Dominion wanted to get out of the war-born airplane business. So last October, Reconstruction Minister Clarence D. Howe began looking around for someone to take over the big Canadair plant, near Montreal, which was operated for the Government during the war by Canadian Vickers Ltd. Howe wanted the plant to go on making the North Star transport, a modified Douglas DC-4, thus 1) keep 7,500 workers in their jobs and 2) preserve the nucleus of an air industry. He could not find a well-heeled Canadian willing to do the job. But last week he found...
Electric Boat got the plant on a 15-year lease. It put up $1,000,000 at once and will add later a larger sum (reportedly upwards of $20,000,000). Electric Boat's vice president, 53-year-old John Jay Hopkins, becomes Canadair's new board chairman. Canadair now has orders for 20 transports for Trans-Canada Air Lines and 24 military planes for the Royal Canadian Air Force. Hopkins is shooting for a $40,000,000-a-year international business. He hopes to add another $10,000,000 by reconverting and overhauling planes...
...first venture into airplane manufacturing, Electric Boat Co. hired H. Oliver West, former executive vice president of Seattle's Boeing Aircraft Co., as Canadair's new president. Unlike Hopkins, President West is no newcomer to Canada (he helped organize Trans-Canada Air Lines in 1937) or to plane making (he is credited with bossing Boeing production of half the B-17s and 70% of all the B-29s made for the U.S. during...