Grace's Guide

British Industrial History

Grace's Guide is the leading source of historical information on industry and manufacturing in Britain. This web publication contains 136,336 pages of information and 219,114 images on early companies, their products and the people who designed and built them.

Avco Corporation

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1929 The Aviation Corporation (AVCO) was formed as a holding company in order to prevent a takeover of the airmail service operator Embry-Riddle Company by Clement Melville Keys, who planned on buying Curtiss aircraft rather than Sherman Fairchild's aircraft. With capital from Fairchild, George Hann, the Lehman Brothers, and W. A. Harriman, the holding company began acquiring small airlines. By the end of 1929 it had acquired interests in over 90 aviation-related companies.

1930 The airlines were separated into Colonial and Universal Air Lines. The name of Universal Air Lines name was changed to American Airways, and later merged with Colonial to form American Airlines.

1932 The Airplane Development Corporation was formed by Gerard F. Vultee; Errett Lobban Cord soon took over

1934 AVCO acquired the Airplane Development Corporation and formed the Aviation Manufacturing Corporation (AMC)

1936 AMC was liquidated to form the Vultee Aircraft Division, an autonomous subsidiary of AVCO

1936 Lycoming became a division of Avco Corporation.

1939 Vultee Aircraft Division of AVCO was reorganized as an independent company known as Vultee Aircraft, Inc.

1941 AVCO acquired Consolidated Aircraft Corporation

1943 Consolidated-Vultee, known as Convair, was formed by the merger of Consolidated Aircraft and Vultee Aircraft

1945 Acquired the New Idea Company from the heirs of Joseph Oppenheim who had founded the farm machinery manufacturer in 1899.

1947 Convair was acquired by the Atlas Corporation

1947 AVCO name changed to Avco Manufacturing Corporation

1959 Avco Manufacturing Corporation name changed to Avco Corporation

1968 Avco acquired the developer of Rancho Bernardo, San Diego

1971 Avco acquired a stake in the developer of Laguna Niguel, California

1984 Avco sold the New Idea line of farm machinery to White Farm Equipment, then part of the Allied Corporation, which formed White-New Idea

1984 Textron acquired Avco Corporation, renaming it Avco Systems Textron

1985 Avco Systems Textron becomes Textron Defense Systems

1995 Textron Systems Corporation was created, consisting of what is now Textron Defense Systems, Textron Marine & Land Systems, and Lycoming

2015 Avco Corporation was a wholly-owned subsidiary of Textron Inc;

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