Lockheed Martin Sells Commercial-Energy Business to TRC
October 23 2019 - 4:49PM
Dow Jones News
By Kimberly Chin
Lockheed Martin Corp. (LMT) has agreed to sell its
commercial-energy business to TRC Cos. for an undisclosed sum.
The sale is part of Lockheed Martin's strategy to focus on
products and technology that serve the U.S. Department of Defense,
the company said.
TRC, which provides end-to-end engineering, consulting and
construction management, will acquire Lockheed's distributed energy
solutions unit, which provides commercial-energy products to
electric and gas utility customers.
Shares of Lockheed were down 1.1% to $369 in after-hours trading
Wednesday.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 23, 2019 16:34 ET (20:34 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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