Principal Subsidiaries: Raytheon Aircraft Company; Raytheon Systems Limited (U.K.). For the predecessor company that merged to form this company, see, Otto J. Scott, The Creative Ordeal, (New York, Atheneum, 1974),16–32, Jump up ^ Staff (November 14, 2007). government. The end of the Cold War and the resulting defense budget cuts ushered in a wave of mergers and consolidations in the defense industry by the mid-1990s. In 1996 Raytheon added two of Chrysler Corporation's defense businesses in a deal valued at about $475 million. Badger Co., Inc., a designer and builder of petroleum and petrochemical plants; United Engineers and Constructors, a designer and builder of power plants; textbook publisher D.C. Heath & Company; and a geological survey company called the Seismograph Service Corporation. Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. Collins Aerospace. [33], United Aircraft Corporation was formed in 1934 from the portions of United Aircraft and Transport east of the Mississippi River (Pratt & Whitney, Sikorsky, Vought, and Hamilton Standard Propeller Company), headquartered in Hartford with Frederick Rentschler, founder of Pratt & Whitney, as president. In December 1998 Daniel P. Burnham, a vice-chairman of AlliedSignal, Inc., took the helm at Raytheon as president and CEO. Raytheon was, in effect, denied access to its markets. Raytheon Technologies serves customers in the commercial aerospace and defense industries. The “Moon” logo underwent a series of modifications in 1882, 1890, 1930, and 1985. Virtually all the tubes produced by Raytheon were used in radio sets whose design patents were held by RCA. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. Source: International Directory of Company Histories, Vol. During the post-war years, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for the commercial market. Pratt & Whitney. E16-Z493. Noting rapidly growing consumer demand for radios, Marshall negotiated the purchase of patents for the S-tube, a gas-filled rectifier that converted alternating current (AC) used in households to the direct current (DC) used in radio sets (ironically, the technology had been developed by Smith and Bush some years earlier while they worked for the American Research and Development Corporation). [3][4], The company is the result of the merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company, which was completed on April 3, 2020. Unique Raytheon Posters designed and sold by artists. The company's first product was a gaseous (helium) rectifier that was based on Charles Smith's earlier astronomical research of the star Zeta Puppis. (Spencer had accidentally discovered microwave cooking in 1945 when a candy bar in his pocket melted as he stood near an operating magnetron tube; the company began selling commercial refrigerator-sized Radaranges in 1947, then five years later started selling, with limited success, expensive consumer models through a licensing deal with Tappan Stove Company.) [33] In the 1960s, Pratt & Whitney produced the Pratt & Whitney JT9D for the Boeing 747. At war's end in 1945 the company was responsible for about 80 percent of all magnetrons manufactured. Modernization, Training & Mission Support. In 1992, Picard announced a new five-year plan. His inability to effect positive changes within the company led him to resign as president in February 1948. In 2003, UTC entered the fire and security business by purchasing Chubb Security. MCKINNEY, Texas, Oct. 5, 2016 /PRNewswire/ -- Raytheon Company (NYSE: RTN) and Logos Technologies are partnering to provide advanced multi-intelligence, or multi-INT, sensor systems to address challenging intelligence, surveillance and reconnaissance, or ISR, requirements. Although Raytheon had invented the microwave oven 20 years earlier, it needed Amana to commercialize the technology. [39] In 1979, Carrier Refrigeration was acquired;[40], At one point the military portion of UTC's business, whose sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. Raytheon has pioneered in the conversion of defense technologies into commercial products handled by Raytheon Commercial Electronics, such as marine electronic equipment, broadband wireless communications products, and infrared night vision systems for automobiles. Workers produced 100 magnetrons a day until plant manager Percy Spencer discovered a method, using punch presses, to raise production to more than 2,500 a day. 1. Nevertheless, the defense department in 1967 selected Raytheon as the prime contractor for the new SAM-D surface-to-air missile. At this time Raytheon's business with the government consisted mainly of radar systems, solar systems, communications equipment, and the Hawk, Sparrow, Patriot, and Sidewinder missiles, all of which totaled less than 40 percent of Raytheon's sales.
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