Avco

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Aerospace company

title: "Avco" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["aircraft-engine-manufacturers-of-the-united-states", "manufacturing-companies-based-in-connecticut", "companies-based-in-greenwich,-connecticut", "textron", "manufacturing-companies-established-in-1929", "american-companies-established-in-1929", "1929-establishments-in-delaware", "1984-mergers-and-acquisitions", "conglomerate-companies-of-the-united-states", "companies-formerly-listed-on-the-new-york-stock-exchange"] description: "Aerospace company" topic_path: "law" source: "https://en.wikipedia.org/wiki/Avco" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Aerospace company ::

::data[format=table title="Infobox company"]

FieldValue
nameAvco Corporation
logoAviation Corporation Logo.png
typeSubsidiary
traded_as
industry
predecessor
foundedin Wilmington, Delaware
founder
defunct
successor
hq_location_cityGreenwich, Connecticut
hq_location_countryUnited States
area_servedWorldwide
owner
num_employees_year
parentTextron
(1984–present)
website
::

| name = Avco Corporation | logo = Aviation Corporation Logo.png | logo_caption = | logo_alt = | type = Subsidiary | traded_as = until 1984 | industry = | predecessor = | founded = in Wilmington, Delaware | founder = | defunct = | fate = | successor = | hq_location_city = Greenwich, Connecticut | hq_location_country = United States | area_served = Worldwide | key_people = | products = | owner = | num_employees = | num_employees_year = | parent = Textron (1984–present) | website =

Avco Corporation{{cite news |newspaper=The New York Times |url=https://www.nytimes.com/1990/12/27/business/business-people-paul-revere-insurance-gets-a-new-president.html |title=Paul Revere Insurance Gets a New President |quote=became a part of Textron in 1984, after Textron acquired .. parent, Avco Inc., ... the bulk .. aerospace technology, commercial products and financial services. |date=December 27, 1990 |access-date=January 22, 2023}} is a subsidiary of Textron, which operates Textron Systems Corporation and Lycoming.

History

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, 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.

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. 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. The company later changed its name to Avco Manufacturing Corporation, and then, in 1959, to Avco Corporation. In 1984, Avco sold its farm machinery division to White Farm Equipment and Avco was purchased by Textron. Textron Systems History , 1984 History, "Textron acquires Avco, including Lycoming, to become Avco Systems Textron", 2010, accessed 2010-11-27.

Avco's affiliated company, Avco Financial Services, was spun off to Associates First Capital Corporation in 1998, which itself was acquired by Citigroup in 2000.

Early companies bought or merged by Avco

Timeline

Locations

References

References

  1. "Avco Corporation: Private Company Information - BusinessWeek". Investing.businessweek.com.
  2. F. Robert Van der Linden. "Airlines and air mail: the post office and the birth of the commercial aviation industry".
  3. F. Robert Van der Linden. "Airlines and air mail: the post office and the birth of the commercial aviation industry".
  4. [[Whiz Kids (Department of Defense). Peck, Merton J.]] & [[Frederic M. Scherer. Scherer, Frederic M.]] ''The Weapons Acquisition Process: An Economic Analysis'' (1962) [[Harvard Business School]] p.619
  5. “Scope Broadened by Aviation Corp.," ''New York Times,'' October 30, 1945 stating that AVCO “will purchase slightly over 50% of New Idea’s outstanding shares from the four managing officers of the company, Henry Synck and J.A, J.H. and T.H. Oppenheim” and “Mr. Synck will be retained as a consultant and director and each of the Messrs. Oppenheim will remain officers and directors." See also:”New Idea Development,” ''Celina Daily Standard,'' August 27, 1999, page 7A, Sidebar. See also:Brian Wayne Wells, “The New Idea Spreader Company (part 2 of 2 Parts)” ''Belt/Pulley Magazine,'' Vol.11, No.6, November/December 1998, Part 2, [https://web.archive.org/web/20110718023802/http://wellssouth.com/blog/?p=83] (accessed Nov. 8, 2010). AVCO, founded in 1928 as The Aviation Corporation, is now a subsidiary of [[Textron]]. In 1950, the last entirely orange wagon with green wheels and the New Idea motto, “Invention, Leadership, Quality,” rolled out of the Coldwater facility. The serial number of the wagon was 11,398 and the lot number was W-108. Wells, “The New Idea Spreader Company … Part 2”
  6. "The Associates Announces Acquisition Of Avco Financial Services". Prnewswire.co.uk.
  7. "Citi - About Citi". Citigroup.com.
  8. F. Robert Van der Linden. "Airlines and air mail: the post office and the birth of the commercial".
  9. Donald M. Pattillo. "Pushing the Envelope: The American Aircraft Industry".
  10. Howard Lee Scamehorn. "Balloons to Jets: A Century of Aeronautics in Illinois, 1855-1955".
  11. "Entrepreneurs, managers, and leaders: what the airline industry can teach us".
  12. "Embry Riddle Early Years".
  13. (1991). "Pioneer Bush Pilot". Bantam Books.
  14. Tim Brady. "The American aviation experience: a history".
  15. "Airline deregulation and laissez-faire mythology".
  16. [http://www.fundinguniverse.com/company-histories/Textron-Lycoming-Turbine-Engine-Company-History.html Textron Lycoming Turbine Engine], a Company History of AVCO and Lycoming/Textron
  17. [http://www.library.hbs.edu/hc/lehman/chrono.html?company=avco_financial_services_inc Avco Financial Services, Inc.] from the Lehman Brothers Collection – Twentieth Century Business Archives
  18. [http://www.centennialofflight.gov/essay/Aerospace/Consolidated_Vultee/Aero33.htm Consolidated Vultee Aircraft Corporation] {{webarchive. link. (June 6, 2011 , U.S. Centennial of Flight Commission)
  19. [http://www.centennialofflight.gov/essay/Aerospace/generaldynamics/Aero35.htm General Dynamics Corporation] {{webarchive. link. (2008-11-12 , U.S. Centennial of Flight Commission)
  20. [http://www.coachbuilt.com/bui/c/central/central.htm Central Manufacturing Co. of Connersville, Indiana], a history of Cord, AVCO, and others
  21. (February 1936). "Westward Ho...". McGraw-Hill Publishing Company.
  22. (February 1935). "Aviation Corporation to Build". McGraw-Hill Publishing Company.
  23. (3 June 1940). "Aviation Corporation Acquires Plane Firm". Nashville Tennessean.
  24. (18 July 2014). "Cars, Radios & Appliances: How Powel Crosley Jr. Changed Industries".
  25. (12 May 1986). "Judson S. Sayre".
  26. (14 November 1956). "Bendix Sale by Avco to Philco Affirmed".
  27. . (3 April 1978). ["Justice Won't Fight Carte Blanche Buy"](https://news.google.com/newspapers?nid=1129&dat=19780403&id=TkwNAAAAIBAJ&sjid=PG0DAAAAIBAJ&pg=3486,243369). *Pittsburgh Post-Gazette*.
  28. "History - Rancho Bernardo Historical Society".
  29. Hammer, Alexander R.. (1969-10-14). "AVCO UNIT TO GET SHARE OF LAGUNA; $19-Million Transaction Set by the Two Concerns". The New York Times.
  30. PR Newswire, December 8, 1999. “1999 AGCO To Close Its Coldwater, Ohio Facility Lockney, Texas Plant to Cease Production by Second Quarter The Free Library(December, 8), http://www.thefreelibrary.com/AGCO To Close Its Coldwater, Ohio Facility Lockney, Texas Plant to...-a058077591(accessed November 21, 2010)”
  31. (2011-08-19). "Stratford's troubled Army Engine Plant property back on market - Connecticut Post". Ctpost.com.
  32. "History : Triumph Aerostructures - Vought Aircraft Division".

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aircraft-engine-manufacturers-of-the-united-statesmanufacturing-companies-based-in-connecticutcompanies-based-in-greenwich,-connecticuttextronmanufacturing-companies-established-in-1929american-companies-established-in-19291929-establishments-in-delaware1984-mergers-and-acquisitionsconglomerate-companies-of-the-united-statescompanies-formerly-listed-on-the-new-york-stock-exchange