Defense Firms Enter Key Alignments to Bid for Smaller Military Contracts
Field, David, The Washington Times (Washington, DC)
The pending $10 billion buyout of Loral Corp. by Bethesda's Lockheed Martin Corp., itself the 9-month-old product of a $10 billion merger, will spur billions of dollars in new aerospace and defense mergers, industry analysts predict.
Top executives involved in the latest acquisition share that view.
"It's like a force of gravity. . . . There are plenty more deals to come," said Bernard Schwartz, Loral Corp. chairman.
"These are Darwinian times in aerospace," said Norman Augustine, Lockheed Martin chief executive officer, adding that the entire industry, from plane makers to parts makers and from bomb builders to microchip makers, faces further change.
Lockheed Martin's plan to buy the bulk of Loral for more than $10 …
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Publication information: Article title: Defense Firms Enter Key Alignments to Bid for Smaller Military Contracts. Contributors: Field, David - Author. Newspaper title: The Washington Times (Washington, DC). Publication date: January 17, 1996. Page number: 6. © 2009 The Washington Times LLC. COPYRIGHT 1996 Gale Group.
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