Loral Sale Not Seen Affecting Facility

The $9-billion sale of Loral Corp.'s defense electronics business to Lockheed Martin Corp. will not immediately affect Loral's Camarillo facility, a Loral spokeswoman said.

Joanne Hvala said the sale to Lockheed Martin, the nation's largest military contractor, would not change Loral's daily operations for the foreseeable future. "It's going to be business as usual for a while," she said.

The sale, announced Monday, would give Lockheed Martin the defense electronics division of Loral, while Loral's satellite and telecommunications branch would be reshaped into a new company.

Hvala said Tuesday that exact details of the reorganization had not been worked out and did not know how it would affect the Camarillo facility in the long term.

The facility has already changed hands once in the past year. Last spring, computer giant Unisys Corp. sold its defense-related businesses to Loral, sending 74 of its Camarillo employees to Loral.

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