Monday, October 8, 2012
Lockheed Martin Restructuring its Electronic Systems Business Sector
Lockheed Martin will restructure its Electronic Systems business into two new divisions — the Missiles and Fire Control (MFC) and Mission Systems and Training (MST) business areas.
The changes become effective Dec. 31, with the MFC business area headquartered in Dallas, focusing on programs such as the Terminal Altitude Area Defense System, Joint Light Tactical Vehicle and PAC-3 Missiles.
The MST business area will be headquartered in Washington, with a focus on the Aegis Combat System, Littoral Combat Ship, MH-60 helicopter avionics among other military and commercial training systems to include F-35 support, according to the company.
The company said the changes will save about $50 million per year by eliminating the executive management teams of its Electronic Systems business area and Global Training and Logistics (GTL) business unit.
“Our customers are looking for affordable solutions to their toughest challenges whether intercepting enemy missiles, conducting naval operations in littoral waters, or securing information networks from attack,” said Chris Kubasik, vice chairman, president and COO at Lockheed Martin. “This new structure will allow us to better support our customers around the world and positions our company for sustained long-term growth.”