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Business briefs: March 18
Posted: Tue, Mar 19, 2002, 10:06 AM ET (1506 GMT)
- Lockheed Martin and TRW have submitted bids for the next generation of US government polar orbiting weather satellites, Space News reported Monday. The government will pick one of the two bidders for the National Polar-orbiting Operational Environmental Satellite System (NPOESS) system, run by NOAA and the Air Force, this fall. The total value of the contract is estimated to be $4 billion.
- Lockheed Martin continued its exit from the telecommunications business Monday by selling two business units to Intelsat. World Systems and Comsat Digital Teleport were originally part of Comsat, purchased by Lockheed Martin in 2000 and folded into its global telecommunications unit, which the company decided to disband in December. Terms of the deal were not disclosed.
- British aerospace and defense company Smiths Industries is rumored to be the latest company interested in acquiring TRW, Reuters reported Monday. Smiths' interest in TRW stems from TRW's earlier acquisition of British aeronautics firm Lucas Aerospace. Northrop Grumman, meanwhile, is continuing its efforts to acquire TRW. The AP reported Monday that Northrop is preparing two proposals to present to the TRW board during its annual shareholder meeting April 24 in an effort to get the board to reconsider Northrop's offer.
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