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Lockheed splits electronic systems business

Posted: 09 Oct 2012     Print Version  Bookmark and Share

Keywords:electronic systems  reorganisation  aeronautics  space systems 

Leading defence firm Lockheed Martin Corp. is splitting its electronic systems business into two new divisions in an effort to reduce costs.

As part of the reorganisation, the U.S-based firm will create two new divisions—the missiles and fire control (MFC) and mission systems and training (MST). The reorganisation would bring the company's total to five business areas including aeronautics, space systems, and information systems & global solutions.

Through this, Lockheed aims to streamline operations and save approximately Rs.271.74 crore ($50 million) a year by eliminating the executive management teams of the electronic systems business area and the global training and logistics business unit. According to the company, about 200 jobs will be affected.

The MFC business area will have 16,000 employees and be headquartered in Dallas, while the MST business area will have 19,000 employees and be headquartered in Washington D.C.

Lockheed has appointed Rick Edwards and Dale Bennett as executive vice presidents of MFC and MST respectively.

Chris Kubasik, Lockheed Martin vice chairman, president and COO, said, "This new structure will allow us to better support our customers around the world and positions our company for sustained long-term growth."

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