Lockheed is reorganizing, may launch Australian unit

August 06, 1996|BY A SUN STAFF WRITER

Lockheed Martin Corp. yesterday announced a corporate reorganization brought about by the acquisition earlier this year of the the bulk of Loral Corp.

On another front, the Bethesda-based defense and aerospace company said it is holding talks with a private defense company in Australia concerning the establishment of a new company.

Under the reorganization, Lockheed Martin will retain six business sectors, with three of them reconstituted to incorporate the technical and operational efficiencies of the Lockheed Martin and Loral units.

Business sectors affected by the reorganization are: Electronics, Cubed I & Systems Integrations, and Information and Services. The Aeronautics sector, which includes the Middle River operations, was not affected by the changes.

Lockheed Martin said it is negotiating with Transfield Defence Systems, a builder of naval ships in Melbourne, about the possibility of forming a new company in that part of the world.

If an agreement is reached, the new company would be composed of Transfield and Lockheed Martin's Ocean, Radar and Sensors Systems division in Syracuse, N.Y., a supplier of radar and submarine warfare electronics.

Pub Date: 8/06/96

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