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Lockheed Martin: no plans to quit space business
Posted: Wed, Feb 14, 2001, 11:00 AM ET (1600 GMT)
Aerospace giant Lockheed Martin has no plans to shut down its commercial space business despite the current tough market, senior executives said this week. The Washington Post reported Wednesday that some unnamed financial analysts have suggested that the company drop its commercial space business, citing demand that has failed to meet expectations and the resulting oversupply of launch vehicles. Company president and COO Robert J. Stevens told the post that while the company was "open-minded" about such changes, it was unlikely that it would drop space entirely, saying that such a move would be "an inappropriate use of a wonderfully gifted core competency." Stevens did tell the Post that the company would look at various solutions to improving its commercial space business, including "how that [launch vehicle] capacity might best be rationalized."
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