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15 Mar 16. Lockheed Martin (NYSE: LMT) has combined its energy products and technologies into a single commercial line of business to be known as Lockheed Martin Energy.
“For decades, we have been investing in smart, natural and safe energy technologies,” said Frank Armijo, the newly appointed vice president of Lockheed Martin Energy. “With our broad energy capabilities now under a single organization, we’ll focus our business growth strategy, enhance collaboration, advance new technology – and ultimately build Lockheed Martin Energy into a true leader in the expanding energy market.”
Armijo previously served in various Lockheed Martin leadership roles in energy, technology integration, strategy and business development.
With technologies and products previously aligned in separate business areas across Lockheed Martin, the new, integrated business now offers a comprehensive line of energy solutions, including:
• Energy Management: Systems and solutions to improve the transmission, distribution and usage of power for utilities, commercial enterprises and government agencies
• Energy Storage: Turn-key energy storage systems for commercial, industrial and utility applications
• Nuclear Systems: Instrumentation and control systems to ensure safety of commercial and government nuclear power programs
• Ocean Technologies: Renewable energy generation by harnessing the tides and temperature gradients
• Bioenergy: Innovative systems to convert biomass and waste into energy
Building on expertise developed for defense and intelligence markets, Lockheed Martin Energy will also apply advanced cyber-security architectures throughout its energy offerings.
The integration of the energy business began in the summer of 2015, and over the last several months, all employees and programs were successfully transitioned into the new line of business. Lockheed Martin Energy, based in Grand Prairie, Texas, has nearly 1,000 employees worldwide and is aligned under Lockheed Martin’s Missiles and Fire Control business area.
15 Mar 16. Lockheed CEO: ‘No regrets’ about Sikorsky buy despite oil price drop. Lockheed Martin Corp (LMT.N) has “no regrets” about buying Sikorsky for $9bn despite a drop in oil prices that has led to a bigger-than-expected decline Sikorsky’s commercial helicopter sales, Chief Executive Marillyn Hewson said Tuesday. Hewson said buying the company was “absolutely a great opportunity” and Lockheed remained confident about its long-term prospects, despite the oil-related drop in commercial sales. She said she expected oil prices to recover over the longer term. (Source: Reuters)
15 Mar 16. Constellium Reports Full-Year and Fourth Quarter 2015 Financial Results. Constellium N.V. (NYSE and Euronext: CSTM) reported results for the full year and fourth quarter ended December 31, 2015. These results include the acquisition of Wise Metals, which closed on January 5, 2015.
• 2015 Shipments of 1.5m metric tons, up 39% from 1.1m in 2014
• 2015 Revenue of €5.2bn, up 41% from €3.7bn in 2014
• 2015 Adjusted EBITDA of €343m, up 25% from €275m in 2014
• Improved year-end leverage to below 5x and liquidity to €733 m from the prior quarter, including €145m from the revolving credit facility
• 2015 Diluted EPS of (€5.27) reflecting substantial impairment charges
• Expanding joint venture with UACJ to establish a leadership position in the growing North American Body-in-White market, reducing expected capital investment from $620m to approximately $340m
• Plan to launch a secured corporate bond offering of approximately $400m
• CEO to retire in 2016
Constellium’s Adjusted EBITDA for 2015 was €343m, an increase of €68m, or 25%, from the 2014 Adjusted EBITDA, driven