Marmon Group is an industrial United States holding company headquartered in Chicago, Illinois; founded by Jay Pritzker and Robert Pritzker in 1953 (as Colson Corporation), it has been held by the Berkshire Hathaway group since 2013. It owns companies that produce transportation equipment, electrical components, and other industrial components, and companies that provide services in the construction and retail sectors. Tank car manufacturing is a significant part of its business, products which are sold through its subsidiaries Union Tank Car Company in the United States and Procor in Canada. Berkshire Hathaway, which owns the second-largest freight railroad carrier in North America, BNSF Railway, acquired controlling interest in Marmon in 2007 and became sole owner six years later.
Video Marmon Group
Origin and history
In 1953, Jay Pritzker and Robert Pritzker acquired Colson Corporation, a struggling manufacturer with sales of $3m. The name of the company was changed to Marmon Group in 1964, after the acquisition of Marmon-Herrington. Major acquisitions by Marmon Group have included Cerro Corporation (1976) and TransUnion (1981). In 2007, the Pritzker family sold a 60 percent interest in Marmon Group to Berkshire Hathaway, with plans for Berkshire to acquire the remaining 40% over the course of the next 5-6 years; the remaining minority stake was purchased by Berkshire in 2013.
Maps Marmon Group
Subsidiaries
The following is a list of subsidiaries of the Marmon Group:
References
External links
- Marmon Group
Source of the article : Wikipedia
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