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Business/Financial

Lockheed Martin Completes Divestiture Of Energy Services Business

By Cal Biesecker

Wednesday, November 20th, 2019

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Lockheed Martin Completes Divestiture Of Energy Services Business

Lockheed Martin's Energy business includes long-duration storage solutions. Image: Lockheed Martin

TRC Companies on Tuesday said it has completed its acquisition of Lockheed Martin’s [LMT] Distributed Energy Solutions (LM-DES), which expands its presence across North America and adds to its utility services capabilities. Terms of the deal, which was first announced in October, were not disclosed. The divestiture of LM-DES allows Lockheed Marti to focus energy strategy on products and technology for the energy market and the Defense Department. LM-DES is a commercial business that provides services for energy efficiency, demand…

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