Advertisement
YOU ARE HERE: LAT HomeCollectionsVought Aircraft Co
IN THE NEWS

Vought Aircraft Co

FEATURED ARTICLES
BUSINESS
July 13, 1994 | JAMES F. PELTZ, TIMES STAFF WRITER
Northrop Grumman Corp. said Tuesday that it agreed to buy the 51% of Vought Aircraft Co. it does not already own for $130 million from Carlyle Group, a Washington investment partnership. Dallas-based Vought makes large sections of commercial and military airplanes, including Northrop's B-2 Stealth bomber and Boeing Co.'s 747 jumbo passenger jet. The deal is not a surprise. Northrop, the Los Angeles-based aerospace and defense concern that recently bought Grumman Corp. for $2.
ARTICLES BY DATE
BUSINESS
July 13, 1994 | JAMES F. PELTZ, TIMES STAFF WRITER
Northrop Grumman Corp. said Tuesday that it agreed to buy the 51% of Vought Aircraft Co. it does not already own for $130 million from Carlyle Group, a Washington investment partnership. Dallas-based Vought makes large sections of commercial and military airplanes, including Northrop's B-2 Stealth bomber and Boeing Co.'s 747 jumbo passenger jet. The deal is not a surprise. Northrop, the Los Angeles-based aerospace and defense concern that recently bought Grumman Corp. for $2.
Advertisement
BUSINESS
May 20, 1995 | From Times Staff and Wire Reports
Northrop Grumman Sells Research Facility: The Los Angeles-based firm sold its 34-acre Palos Verdes Peninsula research and development campus to Cayman Development, a real estate developer, after having the property on the market for four years. The sale was conducted by a sealed bid arranged through Santa Monica-based Kennedy-Wilson International. The purchase price has not been disclosed. The asking price in November was $12 million. Northrop, which acquired Grumman Corp.
BUSINESS
May 16, 1996 | JAMES F. PELTZ, TIMES STAFF WRITER
Northrop Grumman Corp., benefiting from an upswing in orders for commercial aircraft, plans to call back or hire about 650 workers this year, including 240 at its jetliner parts factory in Hawthorne, the company's chairman said Wednesday. The hiring "will help offset some of the job reductions in California we announced earlier this year," which amounted to 2,100 positions, Chairman Kent Kresa told stockholders at Northrop Grumman's annual meeting in Santa Monica.
BUSINESS
March 12, 1994 | RALPH VARTABEDIAN, TIMES STAFF WRITER
If Northrop Corp. buys Grumman Corp., two things are for sure: Some production plants will close, and a good many workers will lose their jobs. The question is, which ones? In a dozen states, ranging from Northrop's home base in Southern California to Grumman's major presence in New York and Florida, the merged company would surely scrutinize its array of facilities for ways to consolidate and cut costs. Many of these facilities would be permanently shuttered.
BUSINESS
September 1, 1992 | DEAN TAKAHASHI, TIMES STAFF WRITER
Loral Corp. said Monday it has completed its acquisition of the missile operation of LTV Corp., setting the stage for a possible transfer of jobs from Orange County to Texas or Arkansas. For its share of a three-partner deal, Loral expects to pay LTV a total of $244 million for the missiles division of Dallas-based LTV, which is reorganizing under Chapter 11 bankruptcy protection. Loral's partners, the Carlyle Group in Washington and Northrop Corp.
BUSINESS
October 20, 1994
BankAmerica, the nation's second-largest banking company, said Wednesday that growth in loans and consumer banking fees boosted its profit 13% during the three-month period ended Sept. 30. The San Francisco-based bank earned $547 million, or $1.36 a share, in the third quarter, compared to $486 million, or $1.19 a share, during the same period last year. BankAmerica's acquisition of Chicago-based Continental Bank Corp., completed in August, was a boon for the company during the quarter.
BUSINESS
September 1, 1994 | JAMES F. PELTZ, TIMES STAFF WRITER
Southern California's defense industry doesn't need to adopt a new game plan in response to the proposed merger of Lockheed Corp. and Martin Marietta Corp., however daunting the combined behemoth might appear. For many local defense giants, the situation already called for an aggressive search for takeover targets. And that means the industry is expected to keep shrinking rapidly as the firms buy and sell assets to counter the long slide in Pentagon spending.
BUSINESS
September 23, 1994 | JAMES F. PELTZ, TIMES STAFF WRITER
Northrop Grumman Corp., in another stark illustration of the human cost of spending cutbacks in the defense industry, said Thursday it will slash 8,650 jobs during the next 15 months, including 4,150 in Southern California. The job losses are "a painful but necessary step to reduce our costs" and to make the contractor "a leaner, streamlined company" in the face of the defense slowdown, Northrop Grumman Chairman Kent Kresa said in a statement.
NEWS
April 5, 1994 | JAMES F. PELTZ, TIMES STAFF WRITER
Northrop Corp., finally the winner in one of the takeover contests that are remaking the post-Cold War defense industry, said Monday it agreed to buy Grumman Corp. of Bethpage, N.Y., for $2.17 billion. The deal ended a four-week tussle over Grumman between Los Angeles-based Northrop and aerospace giant Martin Marietta Corp. of Bethesda, Md.
Los Angeles Times Articles
|