Chance Vought Aircraft
1917 The Lewis and Vought Company was formed to enable Chance Vought to exploit his airframe design talents in his own company.
1929 Chance Vought Aircraft joined the United Aircraft and Transport Corporation, which was led by Pratt and Whitney.
1930 Chance Vought died
1935 The Chance Vought company became part of new United Aircraft Manufacturing Company.
1939 The Vought-Sikorsky Division is formed as division of United Aircraft.
1948 Chance Vought moved to Dallas.
1954 Chance Vought becomes an independent corporation again to assuage concerns about the influence that Pratt and Whitney ownership gave it.
1961 Ling-Temco merged with the Chance Vought Aircraft Co. The company's name was changed to Ling-Temco-Vought which then became LTV Aerospace Corporation.
1976 LTV Aerospace was renamed Vought Corporation.
1983 Vought Corporation was renamed LTV Aerospace and Defense Company.
1986 Poor results in its steel and energy businesses forced the company to enter bankruptcy. LTV Aerospace and Defense Co., however, was consistently profitable.
1992 After the bankruptcy of the parent, Carlyle Group and Northrop acquired the Aircraft Division, which was renamed Vought Aircraft Company. Loral acquired Missiles and Space Division, renaming it Loral Vought Systems.
The company believed its commitment to Total Quality Management was a significant factor in its success, becoming one of the top two composite material structures fabricators in the United States, next to Boeing.
1994 Northrop Grumman acquired the remainder of Vought from Carlyle.
2000 Carlyle Group purchased Northrop Grumman's aerostructures business and revived the Vought name. Vought Aircraft Industries, Inc. is the world's largest independent aerostructures manufacturer.
See Also
Sources of Information
- [1] Company history