Lockheed Martin to remain in commercial satellite business
Posted: Fri, Jan 17, 2003, 8:24 PM ET (0124 GMT)
Lockheed Martin announced Friday that it plans to continue an "aggressive realignment initiative" in its commercial satellite unit rather than sell it or shut it down. In a statement, company executives said that it had completed an evaluation of strategic options for its Commercial Space Systems (LMCSS) business and elected to continue an effort to consolidate and streamline the division. Lockheed Martin had been considering discontinuing the unit or combining it with the satellite manufacturing division of rival Loral, given the current weak demand for commercial communications satellites. LMCSS is one of five major manufacturers of large commercial satellites, along with Loral, Boeing, Astrium, and Alcatel; all have been hit by the drop in demand. LMCSS makes the A2100 series of communications satellites, five of which were launched in 2002.
Lockheed Martin announced Friday that it plans to continue an "aggressive realignment initiative" in its commercial satellite unit rather than sell it or shut it down. In a statement, company executives said that it had completed an evaluation of strategic options for its Commercial Space Systems (LMCSS) business and elected to continue an effort to consolidate and streamline the division. Lockheed Martin had been considering discontinuing the unit or combining it with the satellite manufacturing division of rival Loral, given the current weak demand for commercial communications satellites. LMCSS is one of five major manufacturers of large commercial satellites, along with Loral, Boeing, Astrium, and Alcatel; all have been hit by the drop in demand. LMCSS makes the A2100 series of communications satellites, five of which were launched in 2002.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Tuesday, January 20
Gilmour Space’s mega-raising turns rocket maker into unicorn
Australian Financial Review — 5:41 am ET (1041 GMT) Adam’s last rocket blew up. Taxpayers are betting $75m the next one will go better
The Age — 5:39 am ET (1039 GMT) Rocket fuel: Gilmour Space hits unicorn status after $217 million Series E
Startup Daily — 5:38 am ET (1038 GMT) Gilmour Space secures $217M investment to scale Australian space manufacturing capability
Australian Manufacturing — 5:38 am ET (1038 GMT) Gilmour Space secures major Australian investment to scale sovereign space capability
Gilmour Space — 5:37 am ET (1037 GMT) |
