1995: In December 1995, Howmet is acquired by a joint venture in which The Carlyle Group is a 51% participant and Thiokol Corporation is a 49% participant. A Fortune 500 company, Thiokol is a leader in the production of high-technology solid-propellant rocket motors and proprietary fastening systems for the transportation industry. The company is also a major supplier of ordnance and composite products. 1997: On November 26, 1997, Howmet's holding company, Howmet International Inc., begins trading as a publicly listed company on the New York Stock Exchange. Concurrently, Thiokol raises its stock ownership in Howmet to 62% and has the option to purchase the remaining shares owned by The Carlyle Group. Under its new ownership, Howmet continues to be well positioned for growth and technological development and will remain focused on customer satisfaction. 1999: Thiokol, now known as Cordant Technologies Inc., purchases Carlyle's remaining shares, increasing its ownership to 84.6% of the company's stock.
