Lockheed completes sale of ILS
Posted: Thu, Oct 12, 2006, 1:36 PM ET (1736 GMT)
Lockheed Martin has completed the sale of its stake in commercial launch services provider International Launch Services (ILS) as the company begins its latest launch campaign. Lockheed transferred its majority interest in ILS on Wednesday to Space Transport, Inc., a company established by long-time ILS consultant and board member Mario Lemme. Terms of the sale, announced last month, were not disclosed. At the same time ILS announced that Frank McKenna, vice president of ILS, would take over as president of the company, replacing Marc Albrecht, who will retire from Lockheed Martin at the end of the year. ILS markets Russia's Proton launch vehicle to commercial customers, and announced Thursday it was beginning the campaign for its next launch, of Arabsat's Badr 4 satellite, scheduled for November 9. ILS also formerly marketed Lockheed's Atlas 5, but Lockheed retained the rights to sell the Atlas commercially.
Lockheed Martin has completed the sale of its stake in commercial launch services provider International Launch Services (ILS) as the company begins its latest launch campaign. Lockheed transferred its majority interest in ILS on Wednesday to Space Transport, Inc., a company established by long-time ILS consultant and board member Mario Lemme. Terms of the sale, announced last month, were not disclosed. At the same time ILS announced that Frank McKenna, vice president of ILS, would take over as president of the company, replacing Marc Albrecht, who will retire from Lockheed Martin at the end of the year. ILS markets Russia's Proton launch vehicle to commercial customers, and announced Thursday it was beginning the campaign for its next launch, of Arabsat's Badr 4 satellite, scheduled for November 9. ILS also formerly marketed Lockheed's Atlas 5, but Lockheed retained the rights to sell the Atlas commercially.
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