Lockheed Martin will sell 2 units, merge others

June 2, 2010 6:34:41 AM PDT
Defense contractor Lockheed Martin Corp. says it will sell two businesses and realign others, saying the moves will improve its performance. The Bethesda, Md., company says it will sell the Enterprise Integration Group unit because the U.S. government is concerned about conflicts of interest, which are keeping it from getting some contracts. It says the Pacific Architects and Engineers unit did not fit with its strategies in the current market.

Both businesses, part of the Information Systems and Global Services division, produce about 3 percent of Lockheed's revenue.

Lockheed also says it will combine its Readiness and Stability Operations and Savi Technology units with its Simulation, Training and Support business, and rename them Global Training and Logistics.