Lockheed Martin Corp expects more defence assets to come up for sale in the face of budget pressures and a changing security environment, said Chief Executive Officer Robert Steven.
Speaking at the Reuters Aerospace and Defence Summit in Washington, Stevens said Lockheed Martin has the cash needed to make acquisitions in areas of interest such as cybersecurity, but the company would be “selective” in bidding for assets.
Stevens said Lockheed Martin does not intend to get into the shipbuilding business and is not interested in the Northrop Grumman’s naval division recently put up for sale.
Lockheed Martin is selling its Enterprise Integration Group unit and Pacific Architects and Engineers Inc business as part of its portfolio review.
Stevens said the company has received “very healthy” expressions of interest from several parties, and the company is making “very good” progress in the sale process.