Hello, Guest!
  • Thursday, April 25, 2024

Marillyn Hewson: Lockheed to Add Astrotech’s Satellite Launch Prep Offerings Through Acquisition


Marillyn Hewson
Marillyn Hewson

Lockheed Martin (NYSE: LMT) has moved to expand its space systems business by agreeing to purchase Astrotech Corp.‘s business unit that provides satellite launch support work to the government and commercial sectors.

Terms of the deal were undisclosed and Lockheed expects to wrap up its acquisition of Astrotech Space Operations in the third quarter of its 2014 fiscal year, subject to shareholder and regulatory approvals, Lockheed said Thursday.

“Astrotech Space Operations’ expertise in the final stages of launch preparation complements our existing capabilities in satellite design, production and integration, ” said Marillyn Hewson, Lockheed chairman and CEO.

The Astrotech unit works with customers to test, fuel and encapsulate satellites prior to liftoff.

Astrotech Space Operations has facilities near Cape Canaveral, Fla. and Vandenberg Air Force Base, Calif.

Video of the Day

Related Articles

Next-Generation Interceptor Award: The Future of U.S. Missile Defense Articles

Next-Generation Interceptor Award: The Future of U.S. Missile Defense

The next-generation interceptor award is critical in shielding the homeland as a part of the U.S. missile defense strategy. It is set to replace the current Ground-Based Interceptors within the Ground-Based Midcourse Defense (GMD) system. The U.S. needs to keep investing in missile defense technologies to deal with growing threats against ballistic, cruise, and hypersonic

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs Financial Reports

Lockheed Reports 14% Increase in Q1 2024 Net Sales; Jim Taiclet Offers Update on F-35, Next-Gen Interceptor, LRDR Programs

Lockheed Martin (NYSE: LMT) generated $17.2 billion in net sales during the first quarter of 2024, up 14 percent from the prior-year period’s $15.1 billion, and reported $1.5 billion in Q1 net earnings, or $6.39 per share. The Bethesda, Maryland-based aerospace and defense contractor said Tuesday it returned $1.8 billion in cash to shareholders through

Scott Wood Named VP of Defense Programs at T-Rex; Leslie Hubbard-Darr Quoted Executive Moves

Scott Wood Named VP of Defense Programs at T-Rex; Leslie Hubbard-Darr Quoted

Scott Wood, formerly vice president of programs at Leonardo DRS (Nasdaq: DRS), has been named VP of defense programs at T-Rex Solutions, a provider of information technology modernization services to government agencies. He will manage the company’s growth strategy and oversee the delivery of IT products and services to the Department of Defense in his