 | |
| Company type | Subsidiary |
|---|---|
| Industry | |
| Founded | 1929 in Wilmington, Delaware |
| Headquarters | , United States |
Area served | Worldwide |
| Parent | Textron (1984–present) |
| Website | textron |
Avco Corporation [1] is a subsidiary of Textron, which operates Textron Systems Corporation and Lycoming. [2]
The Aviation Corporation was formed on March 2, 1929, to prevent a takeover of CAM-24 airmail service operator Embry-Riddle Company by Clement Melville Keys, who planned on buying Curtiss aircraft rather than Sherman Fairchild's. With capital from Fairchild, George Hann, Lehman Brothers, and W. A. Harriman, [3] the holding company began acquiring small airlines. By the end of 1929, it had acquired interests in over 90 aviation-related companies. In January 1930, the board broke off the airlines into Colonial and Universal Air Lines. Universal Air Lines name was changed to American Airways, and later merged with Colonial to form American Airlines. [4]
The company was required to divest American Airlines in 1934 due to new rules for air mail contracts. The Aviation Corporation ranked 32nd among United States corporations in the value of World War II production contracts. [5] Two months after World War II ended the Aviation Corporation branched into the manufacture of farm machinery with its acquisition of the New Idea Company in October 1945. [6] The company later changed its name to Avco Manufacturing Corporation, and then, in 1959, to Avco Corporation.[ citation needed ] In 1984, Avco sold its farm machinery division to White Farm Equipment and Avco was purchased by Textron. [7]
Avco's affiliated company, Avco Financial Services, was spun off to Associates First Capital Corporation in 1998, [8] which itself was acquired by Citigroup in 2000. [9]
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Beechcraft is an American brand of civil aviation and military aircraft owned by Textron Aviation since 2014, headquartered in Wichita, Kansas. Originally, it was a brand of Beech Aircraft Corporation, an American manufacturer of general aviation, commercial, and military aircraft, ranging from light single-engined aircraft to twin-engined turboprop transports, business jets, and military trainers. Beech later became a division of Raytheon and then Hawker Beechcraft before a bankruptcy sale turned its assets over to Textron. It remains a brand of Textron Aviation.
Convair, previously Consolidated Vultee, was an American aircraft-manufacturing company that later expanded into rockets and spacecraft. The company was formed in 1943 by the merger of Consolidated Aircraft and Vultee Aircraft. In 1953, it was purchased by General Dynamics, and operated as their Convair Division for most of its corporate history.
Lycoming Engines is a major American manufacturer of aircraft engines. With a factory in Williamsport, Pennsylvania, Lycoming produces a line of horizontally opposed, air-cooled, four, six and eight-cylinder engines including the only FAA-certified aerobatic and helicopter piston engines on the market.
Powel Crosley Jr. was an American inventor, industrialist, and entrepreneur. He was also a pioneer in radio broadcasting, and owner of the Cincinnati Reds major league baseball team. In addition, Crosley's companies manufactured Crosley automobiles and radios, and operated WLW radio station. Crosley, once dubbed "The Henry Ford of Radio," was inducted into the Automotive Hall of Fame in 2010 and the National Radio Hall of Fame in 2013.
Textron Inc. is an American industrial conglomerate based in Providence, Rhode Island. Textron's subsidiaries include Arctic Cat, Bell Textron, Textron Aviation, and Lycoming Engines. It was founded by Royal Little in 1923 as the Special Yarns Company. In 2020, Textron employed over 33,000 people in 25 countries. The company ranked 265th on the 2021 Fortune 500 of the largest United States corporations by revenue.
Errett Lobban "E. L." Cord was an American business executive. He was considered a leader in United States transport during the early and middle 20th century.
The Stinson Aircraft Company was an aircraft manufacturing company in the United States between the 1920s and the 1950s.
The Crosley Broadcasting Corporation was a radio and television broadcaster founded by radio manufacturing pioneer Powel Crosley, Jr. It had a major influence in the early years of radio and television broadcasting, and helped the Voice of America carry its message around the world.
Bendix Corporation is an American manufacturing and engineering company which, during various times in its existence, made automotive brake shoes and systems, vacuum tubes, aircraft brakes, aeronautical hydraulics and electric power systems, avionics, aircraft and automobile fuel control systems, radios, televisions and computers.
Vincent Hugo Bendix was an American inventor and industrialist. Vincent Bendix was a pioneer and leader in both the automotive and aviation industries during the 1920s and 1930s.
Elmore Manufacturing Company was a manufacturer of veteran and brass era automobiles and bicycles (1893–97), headquartered at 504 Amanda Street, Clyde, Ohio, from 1893 until 1912. The company took its name from a small parcel of land in Clyde with the name Elmore associated with it where a stave mill was established originally, then evolved into bicycle production. The village of Elmore, Ohio is located 20 mi (32.2 km) to the east. Founded by Harmon Von Vechten Becker and his two sons, James and Burton, the Elmore used a two-stroke engine design, in straight twin or single-cylinder versions. They later produced a straight-3 followed by a straight-4 beginning in 1906 until production ended in 1912. The company advertising slogan was "The Car That Has No Valves", referring to the two-stroke engine.
The Consolidated Aircraft Corporation was founded in 1923 by Reuben H. Fleet in Buffalo, New York, the result of the Gallaudet Aircraft Company's liquidation and Fleet's purchase of designs from the Dayton-Wright Company as the subsidiary was being closed by its parent corporation, General Motors. Consolidated became famous, during the 1920s and 1930s, for its line of flying boats. The most successful of the Consolidated patrol boats was the PBY Catalina, which was produced throughout World War II and used extensively by the Allies. Equally famous was the B-24 Liberator, a heavy bomber which, like the Catalina, saw action in both the Pacific and European theaters.
Vultee Aircraft, Inc., was an aircraft manufacturer founded in 1939 in Los Angeles County, California, when the Vultee Aircraft Division of the aviation holding company AVCO was reorganized as an independent company. It had limited success before merging with the Consolidated Aircraft Corporation on March 17–18, 1943, to form the Consolidated Vultee Aircraft Corporation − or Convair.
The Stratford Army Engine Plant (SAEP) was a U.S. Army Tank-Automotive and Armaments Command installation and manufacturing facility located in Stratford, Connecticut, where it was sited along the Housatonic River and Main Street, opposite Sikorsky Memorial Airport.
The Metal Aircraft Flamingo was a monoplane produced in Cincinnati, Ohio by the Metal Aircraft Corporation in the 1930s.
John Paul Riddle was an American pilot and aviation pioneer, best known for training Allied air crews in WW2 and co-founding what later became Embry-Riddle Aeronautical University (ERAU).
Talton Higbee Embry was an American aviation enthusiast who co-founded the company leading to Embry-Riddle Aeronautical University.
The Lycoming ALF 502/LF 507 is a geared turbofan engine produced by Lycoming Engines, AlliedSignal, and then Honeywell Aerospace. The U.S. military designation for the ALF 502 is YF102.
The Vultee V-1 was a 1930s American single-engined airliner built by the Airplane Development Corporation, designed by Gerard Vultee and financed by automobile manufacturer Errett Cord.
Vance Breese (1904–1973) was an American aviation engineer and test pilot.
became a part of Textron in 1984, after Textron acquired .. parent, Avco Inc., ... the bulk .. aerospace technology, commercial products and financial services.
