Lockheed Martin presents new global unit

By IVCPOST Staff Reporter

Jul 01, 2013 11:36 AM EDT

Pentagon's largest dealer by sales, Lockheed Martin, inaugurated a new branch. Lockheed's latest arm was concentrated on developing the defense contractor's international business. Its launching was announced on Monday.

The new division would be called Lockheed Martin International. Patrick Dewar was assigned to be LMI's executive vice president. According to Lockheed Martin, Dewar is presently senior vice president. He was focused on corporate strategy and firm development.

In 2012, Lockheed made around 17% of its US$47 billion of profits overseas. This was equivalent to US$8 billion. In an interview with Reuters, Dewar said the company anticipated an increase in its current target of 20%.

At this time, Lockheed has four divisions. According to records, they were aeronautics with 31% sales, electronics systems also with 31% sales, information systems with 20% sales and global services and space systems with only 17% sales. The company had outstanding 5% dividend earnings. These were supported through its diverse merchandise portfolio and sustained share buybacks.

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