Lockheed Martin To Sell Stake In Russian Joint Venture

Lockheed Martin [LMT] recently said it plans to sell its stake in two joint ventures it has with Russian companies related to the marketing and sale of launch services to Space Transport Inc.

Terms of the sale were not disclosed.

The Lockheed Khrunichev Energia International Inc. (LKEI) venture between Lockheed Martin and Khrunichev State Research and Production Space Center and S.P. Korolev Rocket and Space Corp. Energia sells Proton launch services to commercial customers. LKEI under the brand International Launch Services (ILS) provides sales, marketing and mission management support for launches of both the Lockheed Martin-built Atlas and Khrunichev-built Proton and Angara rockets to commercial customers.

After the sales ILS will continue to market the Proton and Angara launch vehicles. ILS is based in Northern Virginia and is expected to remain there. Lockheed Martin will continue to market Atlas launch services to commercial customers.