* Patrick Dewar to head Lockheed Martin International
* International arm's headquarters in London, Washington
(Adds comments from LMI head)
LONDON, July 1 Lockheed Martin, the
Pentagon's biggest supplier by revenue, is drawing together its
overseas sales efforts in a new international arm as it tries to
win more contracts outside the United States.
Like its rivals Boeing Co and Raytheon Co,
Lockheed has made foreign sales a priority as it grapples with
billions of dollars of U.S. defence budget cuts in recent years.
But it remains more exposed than its competitors to the
The new unit, to be called Lockheed Martin International
(LMI), will be led by Patrick Dewar, who was previously
Lockheed's senior vice president for corporate strategy and
"We recognised that we need a unified approach to how we go
to market in the global market place," Lockheed's Chief
Executive Marillyn Hewson told reporters in London on Monday.
The maker of the F-35 stealth fighter jet and Aegis missiles
made about 17 percent of its $47 billion of revenue abroad in
2012, or $8 billion. It expects that proportion to grow to over
20 percent, Dewar told Reuters last month.
That would still fall short of Raytheon, which makes about
26 percent of its sales abroad, and Boeing Co's defence
division, which says about 42 percent of its backlog is outside
the United States. Both rivals are targeting 30 percent foreign
Dewar said that the company's F-35 Joint Strike Fighter
would have as many international orders as U.S. ones in the next
five years, and that he expects Lockheed's offset obligations,
which sees the company funnelling investment into the buyer
country, to grow with its international push.
LMI will have dual headquarters in London and Washington
D.C., Hewson said, with corporate offices in Ottawa, Riyadh, Abu
Dhabi, Singapore and Canberra as well as regional offices in Tel
Aviv, New Delhi, Tokyo and Seoul.
(Reporting by Brenda Goh; editing by Kate Holton and Tom