Lockheed Martin to sell ILS stake

12 Sep 2006

Lockheed Martin Corp. will sell its share of the International Launch Services (ILS) joint venture to a consultant who has advised the aerospace and defense giant on the launch venture.

The company will sell its ownership interests in ILS and Lockheed Khrunichev Energia International Inc. (LKEI) to Space Transport Inc., a company being set up by Mario Lemme, who has been an advisor for Lockheed Martin and has served on ILS's board for more than three years.

Lemme "has a long-standing knowledge relationship with the program and great relationships with the other two Russian owners," according to Susan Thurman, a spokeswoman for Space Transport. "This has been an interest of his for a long time, which is why he wants to see a continuation of this program and has a keen interest in it."

© 2006 Access Intelligence, LLC

© 2006 Dialog, a Thomson business. All rights reserved

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