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Public ( NYSE : ''' LMT ''')
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"We never forget who we're working for"
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1912 (in 1995, company took on current name)
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HQ in Bethesda, Maryland locations in 45 US states and 56 countries
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Robert J Stevens : Chairman, President, and CEO
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135,000+
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Aerospace and Defense
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$35526 billion USD ( 2004 ), a backlog of $74 billion USD and free cash flow of $2155 billion USD
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ATC systems, ballistic missiles, munitions, NMD elements, transport aircraft, fighter aircraft, radar, satellites, Atlas launch vehicles, Titan Launch Vehicles , numerous others
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() is an
Aerospace Manufacturer and advanced technology company formed in
1995 by the
Merger of
Lockheed Corporation with
Martin Marietta . It is headquartered in
Bethesda ,
Maryland , a community in
Montgomery County, Maryland , and employs 135,000 people worldwide.
Robert J. Stevens is the current
Chairman ,
President , and
CEO .
Lockheed Martin is the world's largest ''. As of 2005, 95% of Lockheed Martin's revenues came from the
U.S. Department Of Defense , other
U.S. Federal Government agencies, and foreign military customers.
Shortly after the creation of the company Lockheed Martin acquired the majority of
Loral Corporation 's defense electronics and system integration businesses for $9.1 billion. The remainder of Loral became
Loral Space & Communications .
In
1998 , Lockheed Martin abandoned plans to merge with
Northrop Grumman due to government fears of the potential strength of the new group (Lockheed/Northrop would have had control of 25% of the
DoD's procurement budget).
In
2000 , Lockheed agreed to pay a $13 million settlement to the US government for breaching the arms export control act. The company passed information to
AsiaSat , a major shareholder of which is the Chinese government. In November 2000 Lockheed completed the sale of its
Aerospace Electronic Systems business to
BAE Systems for $1.67 billion
USD .
Lockheed Martin won the contract to build the
Joint Strike Fighter in
2001 with its
X-35 design. This is the most important fighter aircraft procurement project since the
F-16 , with an initial order of 3,000 worth $200 billion before export orders.
In
2003 , Lockheed Martin benefited from a USAF decision to punish
Boeing for conducting
Industrial Espionage against its rival. The USAF revoked $1 billion worth of contracts from Boeing and awarded them to Lockheed Martin. The company sued Boeing in
1998 for stealing documents related to a military contract.
Lockheed Martin was formed by a "merger of equals". Below are examples of the products each company contributed to the current portfolio:
- A2100
- Martin Marietta 3000
- Martin Marietta 4000
- Martin Marietta 8000
- Tiros-N meteorological satellites
Current members of the ,
Nolan Archibald ,
Marcus Bennett ,
James O. Ellis ,
Gwendolyn King ,
James Loy ,
Douglas McCorkindale ,
Eugene Murphy ,
Joseph Ralston ,
Frank Savage ,
Anne Stevens ,
Robert J. Stevens ,
James Ukropina , and
Douglas Yearley .
- The firm's name, "Lockheed Martin," is sometimes colloquially abbreviated as "LockMart," derived from the first syllables of each word in the name. {Link without Title}
