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Business/Financial

Northrop, Loral To Join In Seeking Government Satellite Contracts

DDN

Friday, February 29th, 2008

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Northrop Grumman [NOC] and Loral Space & Communications [LORL] will work together in seeking government satellite contracts, the companies announced Wednesday. Loral Space is a unit of Space Systems/Loral (SS/L), which will gain expanded satellite manufacturing capacity by using Northrop test facilities and services in Redondo Beach, Calif. While the new cooperative effort would have sizable assets, it enters a market field already dominated by the two biggest defense contractors on the planet, Lockheed Martin [LMT] and Boeing [BA]. In…

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