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Lockheed Martin Corp To Split Electronic Systems Business In Two-Reuters

Monday, 8 Oct 2012 10:24am EDT 

Reuters reported that Lockheed Martin Corp plans to split its electronic systems business into two separate operations focused on missiles and training, a move it said would save $50 million and eliminate 200 jobs. The change, effective December 31, will give Lockheed five business areas: aeronautics, space systems, information systems, missiles and fire control, and mission systems and training. Lockheed said the new missiles and fire-control business will be based in Dallas, with 16,000 employees working on programs such as Patriot PAC-3 missiles and missile defense. The mission systems and training business will be based in Washington with 19,000 employees working on the Aegis combat system, the Navy's Littoral Combat Ship, and as well as military and commercial training systems.