NORTHROP GRUMMAN
Northrop Grumman Corporation is a designer, systems integrator and manufacturer of military surveillance and combat aircraft,
defense electronics and systems, airspace management systems, information systems, marine
systems, precision weapons, space systems, and commercial and military aerostructures.
MERGERS AND ACQUISITIONS
Northrop Grumman was formed in 1994 when Northrop Corporation acquired Grumman Corporation. Also in 1994, the company completed the acquisition of Vought Aircraft, a major producer of military and commercial aerostructures. In March 1996, Northrop Grumman completed the acquisition of the defense and electronics business of Westinghouse Electric Corporation.
In April 2001 Litton Industries was taken over by Northrop Grumman. The $5.1 billion purchase of Litton doubled Northrop's size to $15 billion in annual revenue. In acquiring Litton, Northrop expanded out of its core defense-electronics and information-systems businesses to become one of the Navy's biggest shipbuilders.
On 08 November 2001 Northrop Grumman and Newport News Shipbuilding Inc. announced today that they had signed a definitive agreement under which Northrop Grumman acquired Newport News Shipbuilding. Following the close of the transaction, Newport News will initially be operated as a Northrop Grumman sector. Longer term, Northrop Grumman plans to combine its two shipbuilding businesses into one operating sector.
Northrop Grumman and TRW jointly announced 01 July 2002 that they had entered into a definitive merger agreement. With TRW -- chairman, Kent Kresa's 16th acquisition in eight years -- Century City-based Northrop became one of Southern California's largest companies, employing 24,000 people in El Segundo, Redondo Beach, San Diego and Palmdale and helping revive the region's once-dominant role as home to the nation's leading aerospace firms. With the TRW acquisition, Northrop became the nation's second-largest defense firm, with $26 billion in annual revenue, rivaling No. 1 Lockheed Martin Corp. and ahead of No. 3 Boeing Co. It will have 120,000 employees scattered from coast to coast in 44 states and 25 countries.
