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Lockheed Martin: Sequestration May Cause Consolidations
YOUNGSTOWN, Ohio -- U.S. Rep. Tim Ryan, D-13, and other public officials reacted Friday to published reports that defense contractor Lockheed Martin Corp. is considering closing its Akron facility, where more than 500 are employed, as well as its facilities in central New York.
The story originated with the Post-Standard newspaper in Syracuse, N.Y. Follow-up coverage appeared in the Akron Beacon-Journal (READ STORY).
Lockheed Martin issued a statement emphasizing that no decisions have been made on the future of any of its facilities. The company confirmed it is examining various consolidation scenarios “given the current sequestration environment.”
Said Ryan in a statement released late Friday, “The Tea Party set out to shrink the government and this announcement about the potential loss of defense jobs at Lockheed in Akron shows they’re getting exactly what they wanted. Back in March of this year when sequestration took effect, there were dire warnings of job losses -- yet my Republican colleagues in Congress still thought it was a good idea. Eight months later, the sequester is still in place and we are now starting to see the real effects hit home.
“As a member of the Defense Appropriations Subcommittee, I have always been an advocate for the important national security projects built by Lockheed Martin and their northeastern Ohio employees. I am extremely disappointed that they are considering closing their Akron Facility. I have spoken with Lockheed Martin’s leadership to directly communicate my views and urge them to keep these jobs in Akron.”
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 worldwide. The company specializes in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. Net sales for 2012 were $47.2 billion.
Published by The Business Journal, Youngstown, Ohio.
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