Matra

Matra (an acronym for Mécanique Aviation Traction) was a major French industrial conglomerate. Its business activities covered a wide range of industries, notably aerospace, defence, automotive, motorsports, transport and telecommunications. Following the acquisition of vehicle manufacturer Automobiles René Bonnet, the company founded Matra Automobiles during the 1960s, which produced a limited range of racing and sports cars. Its car division worked closely with other vehicle manufacturers, most significantly Renault, prior to the decline and sale of Matra Automobiles during the early 2000s. In addition to road cars, Matra entered into a wide range of businesses, eventually diversifying into media, weaponry, aeronautics, automobiles, and music distribution. Matra was at one point owned by the Floirat family. Throughout much of the company's existence, French businessman Jean-Luc Lagardère was the CEO of Matra. In 1988, Matra was privatised; Lagardère's stake in the company grew considerably over the following years. In 1994, Matra became a subsidiary of the Lagardère Group and in February 1999, Matra Hautes Technologies (MHT), which represented the conglomerate's aerospace, defence and telecommunications arm, was merged with the French aerospace corporation Aérospatiale to form Aérospatiale-Matra (now Airbus). Several former assets of Matra continue to operate under the Lagardère name. Privatization, bleeding through the Lagardère Group, sell-off of its profitable enterprises, and failure of its automotive division caught up and Matra went bankrupt in 2003.