BETHESDA, Md., Aug. 16, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) is commemorating the 100th anniversary of the founding of the Glenn L. Martin Company, which was incorporated on Aug. 16, 1912, in Los Angeles, Calif.
Just 26 years old when he founded the company, Glenn L. Martin had already broken two world records in his Model 12 seaplane and was a well-known barnstorming aviator. A self-taught engineer and entrepreneur, Martin would lead the company that bears his name for four decades, building an unparalleled legacy of innovations and breakthroughs.
"Glenn L. Martin's story is one of achievement, purpose and integrity," said Bob Stevens, Lockheed Martin Chairman and CEO. "He was a true visionary who lived to advance technology in the name of progress. The guiding principles he instilled in his company from day one – imagination, innovation and integrity – are the same principles that guide the 120,000 men and women of Lockheed Martin today."
Among his many pioneering accomplishments, Martin invented the first packed parachute in 1913. His MB-2 bomber was the first to sink a battleship in 1921. The B-10 earned the Collier Trophy in 1932 for its unprecedented combination of power and versatility. The B-26 Marauder delivered the highest survival rate of any bomber in WWII. The Matador became America's first operational cruise missile in 1952.
"As we look to our next 100 years, the lessons from our founders – Glenn L. Martin and Allan and Malcolm Lockheed – are clear," said Chris Kubasik, Lockheed Martin Vice Chairman, President and COO. "They took on the toughest challenges to address some of the world's most pressing priorities, and they anticipated their customers' needs and moved decisively, often through adversity, to solve them. This company was built on that blueprint, and it's one we'll continue to follow into our next century."
After Glenn Martin's retirement in 1953, the Martin Company (which in 1961 became Martin Marietta) would go on to power the space race, revolutionize manufacturing with the Zero Defects quality program, and develop a string of pioneering missile and rocket technologies. In 1995, Martin Marietta merged with Lockheed Corporation, also founded in 1912, to form today's Lockheed Martin.
The Lockheed Martin Centennial commemoration will continue through the summer of 2013, during which time the company will highlight 100 stories from its history at www.lockheedmartin.com/100years, host events for employees and customers, and conduct 100 community service projects.
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation's net sales for 2011 were $46.5 billion.
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SOURCE Lockheed Martin