BETHESDA, Md., Oct. 23, 2019 /PRNewswire/ -- Lockheed
Martin (NYSE: LMT) and TRC Companies ("TRC") announced today a
definitive agreement in which TRC will acquire Lockheed Martin
Energy's Distributed Energy Solutions group. The sale is part of
Lockheed Martin Energy's strategy to focus on products and
technology for the energy marketplace and the Department of
Defense. Lockheed Martin Energy is a line of business within
Lockheed Martin focused on delivering targeted, flexible,
affordable and effective energy products to customers all over the
world.
Distributed Energy Solutions (DES) is a commercial business
principally engaged in providing distributed energy services to
electric and gas utility customers. DES provides comprehensive
services for energy efficiency, demand response, beneficial
electrification, distributed energy resource management, data
analytics, IT/OT systems integration & operation, cyber
security, cloud and web services.
TRC is a leading provider of end-to-end engineering, consulting
and construction management solutions, fueled by innovative
technology. TRC's strong utility and industry relationships, along
with the addition of the DES group, will position TRC as one of the
leading players in the Advanced Energy segment. The combined
capabilities offer best quality, industry leading and tech enabled
solutions to a combined customer base and the segment in
general.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
105,000 people worldwide and is principally engaged in the
research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
About TRC Companies
A pioneer in groundbreaking
scientific and engineering developments since the 1960s, TRC is a
global consulting, engineering and construction management firm
that provides technology-enabled solutions to the power, oil &
gas, environmental and infrastructure markets. With over 5,500
employees located in the United
States, Canada, UK and
China, TRC is ranked #20 on ENR's
list of the Top 500 Design Firms in the United States.
Forward-Looking Statements
Statements in this
release about future actions and the consequences of these actions
are "forward-looking statements" and are based on current
expectations and assumptions. Forward-looking statements in this
release include, but are not limited to, statements regarding the
expected timing of the transaction, and potential benefits of the
transaction. Forward-looking statements are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from future results expressed or implied by the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the failure or delays in obtaining
any required regulatory approvals, the failure to consummate or a
delay in consummating the transaction for other reasons, as well as
other risks and uncertainties described in Lockheed Martin's Annual
Report on Form 10-K and other filings with the Securities and
Exchange Commission, which are available on its website at
www.lockheedmartin.com/investor. The statements in this
release speak only as of the date of this release. Lockheed
Martin disclaims any duty to update forward-looking statements to
reflect subsequent events, changes in circumstances or changes in
expectations.
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SOURCE Lockheed Martin