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Lockmart To Acquire Northrop Grumman
Washington DC - July 4, 1997 -  Washington DC - July 4, 1997 - In yet another demonstration of its powerhouse size in the world of aerospace and defense contracting, Lockheed Martin Corp. announced yesterday in Baltimore, MD. plans to acquire Northrop Grumman Corp. The deal, valued at $8.3 billion if approved by the U.S. Federal Trade Commission, would leave only the McDonnell Douglas division of the Boeing Corp. as a U.S. military aircraft builder, other than the new LockMart group.The acquisition of Northrop Grumman adds the Stealth B-2 Bomber to Lockheed's F-117 fighter, making it the sole builder of stealth technology-driven fighter aircraft in the U.S. It also adds the MX missile heritage to Lockheed's space booster and winged missile backgrounds. The company is also bidding for the next generation U.S. expendable launch vehicle, a reusable replacement for the U.S. space shuttle, and the next generation multi-role fighter, the Joint Strike Fighter. No opposition is expected from the Clinton administration, which has rubber-stamped every major merger and acquisition in the defense industry since taking office. Lockheed Martin officials said Thursday that they expect to complete the deal, if approved, by year's end. With the FTC's approval of the Boeing/McDonnell Douglas merger, there is clearly only a bi-polar world left in aerospace: Boeing and Lockheed Martin. While the move portends greater cost savings for the U.S. Defense Dept., its effects overall on the industry will likely be more of the same: less internal U.S. competition, less diversity in manufacturers, and less personnel and job opportunities for workers. However, the move will make the U.S. aerospace and defense industry increasingly stronger when competing against foreign firms. CommunityEmail This Article Comment On This Article Related Links Space
Satellite Launch To Boost DTH In India
Calcutta, India (SPX) Dec 28, 2005The successful launch Thursday of India's heaviest satellite from spaceport of Kourou in French Guyana may have boosted the country's space research efforts to yet another level, but it has also lifted the spirits of at least three Direct-To-Home televisions broadcasters, one of which has been waiting for years to launch its services in India. |
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