Martin completes acquisition
Martin Marietta Corp. said yesterday that it had completed its $208.5 million acquisition of General Dynamics Corp.'s space systems division.
The cash purchase, announced in December, fits Martin
Marietta's strategy for the post-Cold War defense industry, said the maker of space launch vehicles, missiles and related products. The former General Dynamics business designs, manufactures and supports Atlas and Centaur space launch vehicles.
Martin Marietta said it will cut costs by consolidating its astronautics division, including the Titan IV program, with the Atlas and Centaur programs. A committee representing employees from Martin Marietta and General Dynamics will report "recommendations on facilities and organizational changes" by July 15.