Lockheed Martin Completes Acquisition Of Astrotech Space Operations Business

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Aug 22, 2014, 04:15 ET

BETHESDA, Md., Aug. 22, 2014 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) has completed the acquisition of the assets of the Astrotech Space Operations business of Astrotech Corporation.

With operations in Titusville, Florida, and Vandenberg Air Force Base, California, Astrotech Space Operations is a leader in satellite launch preparation services, from final testing and fueling to encapsulation and day-of launch operations. With more than 300 successful spacecraft missions to date, Astrotech Space Operations provides all support necessary for successful spacecraft processing to prepare for launch on a variety of U.S. and international launch vehicles.

Astrotech Space Operations will be a wholly-owned subsidiary of Lockheed Martin reporting through the Corporation's Space Systems business area. This acquisition was originally announced May 29, 2014. The terms of the transaction are not material to Lockheed Martin.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

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