Like every major US defense contractor panning the domestic budget landscape and seeing few opportunities for the kind of growth that keeps shareholders happy, Lockheed Martin is positioning itself for work overseas.
The world’s largest defense contractor announced Monday in London that it was forming a new organization to consolidate its international offices and teams. The new group, to be called Lockheed Martin International, will have dual-headquarters in Virginia and London, and will be run by Patrick Dewar. Dewar has been serving as senior vice president of corporate strategy and business development for Lockheed.
“We’re launching a new organization that will accelerate our international partnerships, and provide new opportunities for our global customers, for our suppliers, and for our employees around the world,” company CEO Marillyn Hewson said during a press conference. “We recognize that it takes a keen understanding of our customers’ goals, their challenges, and their vision for how they protect and serve their citizens, and gaining that understanding and more importantly building that relationship.”
Lockheed, which currently earns 17 percent of its revenue from international customers, is hoping to push that number past 20 in the “next few years,” Hewson said.
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