Word: marietta
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Sperry Rand Corp. produces a range of goods from hay balers and electric shavers to gyroscopes and Univac computers, but lately it seems to be turning out people faster than anything else. The first notable exit was staged last fall by George M. Bunker, whose Martin Marietta Corp. had bought 800,000 Sperry shares with a view toward a merger that both companies appeared to want. Soon discovering that he could not get along with Sperry's top management, Bunker resigned as a director and sold off Martin's shares in what was the biggest single liquidation...
...Gemini two-men-in-space program, already nine months behind schedule, got off the ground last week. A Martin Marietta Titan II rode from Cape Kennedy trailing orange smoke from its two engines, an unmanned dummy capsule fitted into its nose. The first stage burned for 21 minutes, then the second stage ignited and accelerated to orbital speed. In six minutes the word came back from the tracking system: Gemini was in orbit with a perigee of 99.6 miles and an apogee of 204 miles, almost exactly as planned...
From baking bread to making steel, the most promising area of automation is computer control of factory production lines. Last week two major space-age firms got together to form the newest and biggest company in a rapidly growing field. The Martin Marietta Corp. and Thompson Ramo Wooldridge Inc. set up a separate company called the Bunker-Ramo Corp. to design and install computerized assembly lines for the industrial market...
...partnership is a natural. Ever since he joined his Martin Co. with American-Marietta three years ago, Chairman George Maverick Bunker, 56, has been selling off his least profitable operations and building a nest egg that now amounts to $150 million. On the other hand, Thompson Ramo Wooldridge has the biggest industrial process-control operation in the U.S., supplies devices to such firms as U.S. Steel (to control oxygen furnaces) and Riverside Cement (to regulate cement blending). But TRW did not have capital enough to develop the business and make it profitable. With Martin putting up the cash and owning...
Marinas & Uranium. In search of diversification, Socony has in the past year investigated 123 projects, from oil-fired air conditioners to marinas and country clubs. Last week Socony bought nine plants producing paints and industrial coatings from Martin Marietta Corp. Some other companies wander farther afield: Kerr-McGee bought a railroad tie producer, Tidewater a uranium mine in Wyoming and the exploration rights for diamonds in Hottentot Bay, South West Africa. Kern County Land Co., a California oil producer, gets more than half its gross revenues from turning out auto parts...