Lockheed Corp. plans to sell its shipbuilding unit.
Lockheed Shipbuilding Co. is on the block as part of a plan to allow the parent company to focus on its other businesses. Lockheed probably will make “additional restructuring moves” in the next several months, but a major reshaping of the company is not planned, a company spokesman said. Lockheed will not sell the shipbuilding company’s advanced marine systems operation. Seattle-based Lockheed Shipbuilding has 915 employees. The operation had a $3.6-billion loss on revenue of $161 million in 1986.
For the record:
12:00 a.m. July 17, 1987 FOR THE RECORD
Los Angeles Times Friday July 17, 1987 Home Edition Business Part 4 Page 2 Column 6 Financial Desk 1 inches; 17 words Type of Material: Correction
The 1986 loss of Lockheed Shipbuilding Co. was misstated in Wednesday’s Business. The correct figure is $3.6 million.
