LOCKHEED MARTIN ANNOUNCES SALE OF HANFORD CORPORATION, TRANSACTION MARKS FIRST DIVESTITURE SINCE ANNOUNCING MAJOR REALIGNMENT
BETHESDA, MD, November 30th, 1999 -- Lockheed Martin Corporation (NYSE:LMT) today announced it has signed a definitive agreement to sell its Lockheed Martin Hanford Corporation subsidiary (Hanford Corporation), a U.S. Department of Energy (DOE) environmental management prime contractor, to CH2M HILL Companies, Ltd. The transaction is the first in a series of possible divestitures aimed at sharpening Lockheed Martin's focus on its core businesses. The transaction, which has the approval of the DOE, is expected to be complete at, or near, the end of the year following expiration of the applicable Hart-Scott-Rodino waiting period. Details of the transaction were not disclosed. Body
