LUFKIN, Texas, Jan. 11 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) dedicated an expanded state-of-the-art electronics fabrication and assembly facility during a ribbon cutting ceremony today. The new 50,000-square-foot addition effectively doubles the size of the company's Lufkin Operations facility, providing adequate space for future production growth and potential modest hiring.
Lockheed Martin's Lufkin Operations produces electronics and sub-assemblies for the combat-proven Patriot Advanced Capability-3 (PAC-3) Missile, the Guided Multiple Launch Rocket System (GMLRS), the Army Tactical Missile System (ATACMS) and the Terminal High Altitude Area Defense (THAAD) Weapon System. The company anticipates steady growth in its Lufkin Operations on these programs over the next few years.
"The dedication of the expanded facility marks our continued investment in East Texas and signals our commitment to ensuring that the next generation of Lockheed Martin technology will be developed and manufactured here in Lufkin," said Keith Johnson, site director of Lockheed Martin Missiles and Fire Control's Lufkin Operations. "This expansion exemplifies our on-going commitment to developing some of the world's most advance missile systems that serve our Warfighters in their defining moments."
Johnson said the company's original 50,000-square-foot facility was designed in 1995 to accommodate approximately 100 employees. "Considering the long-term nature of military procurement, we were able to anticipate our need to increase our production rates on many of our systems," Johnson said. "Through this expansion, we will be able to maintain the high level of quality and performance that our customers demand and accommodate future program growth."
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
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SOURCE Lockheed Martin