Navigation Links
Lockheed Martin Agrees to Acquire Eagle Group International, LLC
Date:4/28/2008

Purchase will Strengthen Company's Military Logistics and Health Care

Service Offerings

BETHESDA, Md., April 28 /PRNewswire-FirstCall/ -- Lockheed Martin Corporation (NYSE: LMT) has entered into a definitive agreement to acquire Atlanta, Georgia based Eagle Group International, LLC. Eagle Group provides logistics, information technology, training and healthcare services to the U.S. Department of Defense.

As part of the agreement, the parties have agreed to exclude from the transaction all obligations associated with Eagle Group's U.S. Department of Labor Potomac Job Corps Contract. Other terms of the transaction were not disclosed.

Eagle Group's proven capabilities in military readiness and integrated logistics, healthcare program management and outsourcing, information technology, and training services have enabled it to develop a reputation for outstanding support of its customers' critical missions. Eagle's revenue is generated mainly from work done for the U.S. Army.

"The acquisition of Eagle Group extends our logistics and business process outsourcing capabilities, strengthens our relationships with several key Army customers, and enhances our support for military force modernization and reset imperatives," said Bob Stevens, Lockheed Martin's Chairman, President and CEO. "We're confident that this acquisition will create value for our customers and our shareholders."

"The combination will allow our customers to have access to an expanded range of capabilities and will provide growth opportunities for our exceptional and dedicated employees," said A.J. Johnson, Eagle's Chief Executive Officer and President. "We look forward to joining Lockheed Martin and continuing to build upon our success."

The transaction is subject to government approvals, including a review under the Hart-Scott-Rodino Antitrust Improvements Act and satisfaction of certain closing conditions. It is expected that the transaction will close in the second quarter of 2008.

Founded in 1995, Eagle Group employs more than 1,350 people.

Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.

For additional information, visit our website: http://www.lockheedmartin.com

LOCKHEED MARTIN Safe Harbor Statement / Forward-Looking Statements: Some of the statements contained in this press release are considered "forward- looking statements" under the federal securities laws. Forward-looking statements include, but are not limited to statements regarding: (1) the expected closing date of the transaction; (2) the expected future synergies arising out of the transaction; and (3) future reduced costs, increased efficiency and customer satisfaction. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to: (a) the risk that the transaction may close more slowly than expected or not at all; (b) the risk that the cost savings arising out of the transaction may be less than anticipated, and (c) other risks and uncertainties detailed from time to time in Lockheed Martin's filings with the Securities and Exchange Commission. All information in this release is as of December 16, 2005. Lockheed Martin disclaims any duty to update forward- looking statements to reflect subsequent events, actual results or changes in expectations.


'/>"/>
SOURCE Lockheed Martin Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Ronnie B. Martin, DO, FACOFP-dist. to be Inaugurated as the 55th President of the ACOFP (2008-2009)
2. Representative Greg Harris, Senator Jacqueline Collins, Senator Iris Martinez and Fellow State Legislators to Join Susan G. Komen for the Cure in Announcing Groundbreaking Legislation to Reduce Breast Cancer Disparities; Will Hold Press Conference Friday
3. Joe Martin Appointed CEO of Milestone Scientific and New Executive Member of the Board of Directors
4. Eric Rowinsky, M.D. and Martin Cannon Join Tapestry Board of Directors
5. DRAXIS Health Inc. Announces Retirement of Dr. Martin Barkin as President and Chief Executive Officer
6. Purple: The Hottest Color for Fall in Shoes, Handbags and Martinis
7. LifeSync Corporation Agrees to Sublicense Patent Portfolio to Triage Wireless
8. Cardinal Health Agrees to Acquire ChloraPrep(R) Manufacturer for $490 Million
9. Gentiva(R) Health Services Agrees to Acquire Major Home Health Provider in CON State of Mississippi
10. USDA Agrees to Grant Conditional License to Bioniche for its E. coli O157:H7 Cattle Vaccine
11. Boston Scientific Agrees To Sell Fluid Management and Venous Access Businesses to Avista Capital Partners for $425 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... 2016 , ... TherapySites, the leading website and ... Tennessee Counseling Association. This new relationship allows TherapySites to continue to extend ... exclusive benefits and promotional offers. , "TCA is extremely excited about this new ...
(Date:6/27/2016)... , ... June 27, 2016 , ... ... edge technology to revolutionize the emergency ambulance transport experience for the millions of ... of how Uber has disrupted the taxi industry through the use of technology. ...
(Date:6/26/2016)... ... June 27, 2016 , ... Quality metrics are proliferating in cancer care, ... remain in the eye of the beholder, according to experts who offered insights and ... Journal of Managed Care. For the full issue, click here . , For ...
(Date:6/26/2016)... ... ... Pixel Film Studios Released ProSlice Levels, a Media Slicing Effect Plugin ... whole new perspective by using the title layers in ProSlice Levels to split-up ... Levels contains over 30 Different presets to choose from. FCPX users can ...
(Date:6/26/2016)... ... ... legally blind and certified personal trainer is helping to develop a weight loss fitness plan ... fix the two major problems leading the fitness industry today:, , ... They don’t eliminate all the reasons people quit their exercise program ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016 ... CAPR ), a biotechnology company focused on ... today announced that patient enrollment in its ongoing ... Duchenne) has exceeded 50% of its 24-patient target. ... in the third quarter of 2016, and to ...
(Date:6/23/2016)... , June 23, 2016 Bracket , ... launch its next generation clinical outcomes platform, Bracket eCOA (SM) ... held on June 26 – 30, 2016 in ... first electronic Clinical Outcome Assessment product of its kind to ... #715. Bracket eCOA 6.0 is a flexible platform ...
(Date:6/23/2016)... PARK RIDGE, Ill. and INDIANAPOLIS ... caliber of students receiving a Lilly Diabetes Tomorrow,s Leaders ... hands. The 2016 scholarship winners, announced today online at ... refused to let type 1 diabetes stand in the ... Lilly Diabetes has supported the Foundation,s scholarship program since ...
Breaking Medicine Technology: