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The company was renamed Hughes Tool Company on February 3, 1915. [ 2 ] After Hughes Sr. died of a heart attack in 1924, his son Howard Jr. inherited the majority interest in the company, and then convinced his relatives to sell their shares to him as well.
The manufacturing operations of Hughes' Sharp-Hughes Tool Company at 2nd and Girard Streets in Houston, Texas. Hughes Sr. married Allene Stone Gano, on June 24, 1904, in Dallas County, Texas, and engaged in various mining business endeavors before capitalizing on the Spindletop oil discovery in Texas, as a result of which he began devoting his full time to the oil business.
[6]: 103, 254 In 1968, the Hughes Tool Company purchased the North Las Vegas Air Terminal. Originally known as Summa Corporation, the Howard Hughes Corporation formed in 1972 when the oil-tools business of Hughes Tool Company, then owned by Howard Hughes Jr., floated on the New York Stock Exchange under the "Hughes Tool" name. This forced the ...
In November 1925, at the age of 36, Dietrich met 19-year-old Hughes, who had gained control of Hughes Tool Company after buying out the other family heirs. Started by his father, Howard R. Hughes, Sr., Hughes Tool Company – or Toolco – manufactured oil drilling equipment, especially the multiple-edge, revolving-teeth roller cutter drill bits the elder Hughes invented.
It was established in 1908 as a manufacturer of oil drilling tools. Under the ownership of Howard Hughes, the company expanded over the years into various other businesses, including aviation, media, and casino hotels. In 1972, the company sold its tool business to investors via an initial public offering as a new entity named Hughes Tool Company.
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The Hughes Aircraft Company was a major American aerospace and defense contractor founded on February 14, 1934 by Howard Hughes in Glendale, California, as a division of Hughes Tool Company. [1] The company produced the Hughes H-4 Hercules aircraft, the atmospheric entry probe carried by the Galileo spacecraft , and the AIM-4 Falcon guided ...
Frank William Gay (September 11, 1920 – May 21, 2007) was an American executive who oversaw several entities for Howard Hughes. He was chairman of the board of directors of the Hughes Air Corporation. He served as a senior vice president and member of the board of directors for the Hughes Tool Company.