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Marmon Group

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Marmon Group

Marmon Group
Type Private
Industry Electrical Components, Transportation Equipment, Services Construction & Industrial Components, Retail Solutions
Founded United States (1953 (1953), as Colson Corporation)
Headquarters 181 West Madison Street
Chicago, Illinois,
Key people Frank Ptak (CEO)
Owners Berkshire Hathaway (91.7%)
Pritzker family (8.3%)
Employees more than 20,000 people [1]
Website www.marmon.com

Marmon Group is a United States holding company headquartered in Chicago, Illinois.

Marmon Group owns companies that produce electrical components, industrial components and transportation equipment, and provide services including construction and retail solutions. Tank cars are a significant part of its business, sold through its subsidiaries Union Tank Car Company in the United States and Procor in Canada. Berkshire Hathaway which acquired controlling interest in Marmon in 2007, owns the 2nd largest freight railroad carrier, BNSF Railway, in North America.

History

In 1953 Jay Pritzker and Robert Pritzker acquired Colson Corporation. The name of the company was changed to Marmon Group in 1964 after the acquisition of Marmon-Herrington.[2] Major acquisitions by Marmon Group included Cerro Corporation in 1976 and TransUnion in 1981. In 2007 the Pritzker family sold a 60 percent interest in Marmon Group to Berkshire Hathaway with plans by Warren Buffet's Berkshire to acquire the remaining 40% over the course of the next 5 or 6 years.[3]

Selected subsidiaries

  • Acumed
  • EcoWater
  • Marmon-Herrington
  • Union Tank Car Company
  • Hendrix Wire and Cable, Inc.
  • Cerro Wire & Cable Co, Inc.
  • Harbour Industries, Inc.
  • Rockbestos-Surprenant Cable Corp.
  • Aetna Insulated Wire Co.
  • Owl Wire & Cable, Inc.
  • The Kerite Company
  • Marmon Highway Technologies

References

  1. ^ Marmon Group:About Us
  2. ^ Marmon Group:History
  3. ^ Bajaj, Vikas (December 26, 2007). "Rapidly, Buffett Secures a Deal for $4.5 Billion".  

External links

  • Marmon Group



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