Aircraft industry
BETHPAGE, New York, March 24, Grumman Corp.'s board has authorized the company to hold discussions with Northrop Corp. to clarify the terms of Northrop's $2.04 billion hostile takeover offer. However, the board did not authorize Grumman to enter into negotiations with Northrop. This move comes
Aircraft industry
Martin Marietta Corp. has reached a deal with the Pentagon to share equally in cost overruns or savings on the Titan IV rocket contract. This agreement is part of the company's plan to acquire General Dynamics Corp.'s rocket-launching business for $208 million. The deal is expected
Aircraft industry
February's jump in US retail sales, reported by the Commerce Department, snapped a one-month slide that followed nine straight monthly gains, indicating a consumer spending rebound after a snowy and bitterly cold January. While the government revised January's retail sales downward to a 1.6 percent
Aircraft industry
The stock market experienced a moderate trading day on Wednesday, with a rally that was largely driven by defense stocks and companies involved in the acquisition of Grumman by Martin Marietta. The Dow Jones industrial average rose 23.92 points to 3,856.22, while the Standard & Poor'
Airlines
Airbus Industrie, the European aircraft maker, reported a 9.2% increase in revenue in 1993, reaching $8.3-billion (U.S.) from $7.6-billion in 1992. However, the company faced significant challenges, including a decline in total plane sales and large order cancellations for the second consecutive year. Despite these setbacks,
