Parsons Marine Steam Turbine Company company. In 1944, Parsons was one of 19 companies which formed the 'Parsons and Marine Engineering Turbine Research and Development Association', usually known as Pametrada. The last ship to use a Parsons propulsion system was launched in 1964. The company was absorbed into C. A. Parsons and Company and survives in the Heaton area of Newcastle as part of Siemens, a German industrial conglomerate. Parsons Marine Steam Turbine Company Parsons Marine Steam Turbine Company was a British engineering company based in Wallsend, North East England, on the River Tyne. The company was founded by Charles Algernon Parsons in 1897 with
Gas turbine to develop their own gas turbine sports car in 1968, the Howmet TX, which ran several American and European events, including two wins, and also participated in the 1968 24 Hours of Le Mans. The cars used Continental gas turbines, which eventually set six FIA land speed records for turbine-powered cars. For open wheel racing, 1967's revolutionary STP-Paxton Turbocar fielded by racing and entrepreneurial legend Andy Granatelli and driven by Parnelli Jones nearly won the Indianapolis 500; the Pratt & Whitney ST6B-62 powered turbine car was almost a lap ahead of the second place car when a gearbox bearing failed