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Lockheed closing Penn. satellite plant
Posted: Fri, Nov 15, 2013, 6:33 AM ET (1133 GMT)
Lockheed Martin announced Thursday that, as part of a company-wide consolidation of its facilities, it will close a factory in Pennsylvania that builds satellites for commercial and government customers. The company said it planned to close its facility in Newtown, Pennsylvania, by 2015. Satellite manufacturing work taking place there will be moved to a Lockheed Martin Space Systems facility in Denver that will be renovated to accommodate the new work. The Newtown facility employs 1,050 people, and Lockheed said 800 jobs would be "impacted" by the closure. Lockheed also announced it is closing four buildings on its Space Systems campus in Sunnyvale, California, will 200 people being laid off. The moves are part of a broader consolidation of company facilities that will result in 4,000 layoffs.
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