AEROSPACE & DEFENSE
From Times Staff and Wire Reports
TRW Appeals Loss of Satellite Award: The company’s aerospace unit in Redondo Beach asked the General Accounting Office to review its recent loss of a top-secret military satellite contract, a source familiar with the award said. TRW last year had won the contract, which would have generated more than $2.5 billion in revenue over the next decade. But federal authorities last month stripped the contract from TRW and awarded it to archrival Martin Marietta Corp. after Martin and Lockheed Corp. protested that TRW had submitted a “low-ball” bid. The GAO has issued a stop-work order on the contract pending TRW’s appeal.
