03-27-2021, 11:59 AM
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SPEV/Orion wrangler
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Join Date: Mar 2005
Location: Atlanta, GA
Posts: 2,645
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Quote:
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Wasn't BOTH Estes and Centuri owned by Damon Corp. during this time frame?
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Yes, they were both owned by Damon since late 1970. For whatever reason, Centuri didn't announce it or put "a DAMON company" on their logo. It was *mentioned* in Model Rocketry Magazine, but nothing else after that. I wonder if the deal was structured differently in Centuri's case? (more like a majority investment rather than the "purchase with stock and employment contracts" that the Estes' did).
Centuri invested in their own machines in 1970 because Estes was at capacity and was having trouble filling both their own needs and Centuri's. Once the slow down took hold, Estes could handle both again, and Damon had decided to slowly consolidate.
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Couple of date adjustments: all from Lee Piester's mouth...
Damon approached Centuri in 1970, didn't close the deal until 1971.
Centuri built their own machines in 1969, requiring a large investment. Therefore, one of the reasons (along with move into retail) to make the deal.
And the deal was structured similarly to the Estes deal (Purchase with employment contracts). Lee left the company in 1974.
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Roy
nar12605
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