Made In America: Lockheed Martin In Talks To Buy United Technologies
by July 12, 2015 7:40 am 129 views
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LOCKHEED MARTIN IN TALKS TO BUY UNITED TECHNOLOGIES FOR $8 BILLION
Lockheed Martin Corp. is in advanced talks to buy the Sikorsky helicopter unit from United Technologies Corp., in a deal that could be valued at more than $8 billion, the Wall Street Journal reported after the close of business Friday.
An agreement between Lockheed and United Technologies could be reached in the coming days, according to people familiar with the matter — assuming the talks don’t unravel.
Sikorsky, best known for its Black Hawk choppers, is one of the world’s largest helicopter makers. It manufactures military and commercial helicopters and is the Pentagon’s largest rotorcraft supplier by value. Sikorsky also has an aftermarket business that sells parts and maintenance contracts.
Lockheed Martin’s manufacturing plant in Camden is one of the finalists for the Pentagon’s $30 billion Joint Light Tactical Vehicle contract, along with Oshkosh Defense and AM General. The Pentagon is expected to announce a decision on the highly-watched bid to build the U.S. Army and Marine Corps’ next-generation tactical vehicle later this summer.
WAL-MART UNVEILS JUMP PORTAL TO SUPPORT U.S. MANUFACTURING AGENDA
Wal-Mart Stores on Wednesday unveiled its “Jobs in U.S. Manufacturing Portal” (JUMP) website that will provide updates on the retailer’s effort to reshore manufacturing and allow suppliers to upload product ideas. Cindi Marsiglio, Walmart U.S. vice president, said JUMP is much like a 24/7 open call for suppliers and potential suppliers. The announcement was made at the second and final day of the retailer’s U.S Manufacturing Summit held in Bentonville. It’s the third year for the summit, with the first summit held in Orlando and the 2014 summit held in Denver.
OBAMA ADMINISTRATION DESIGNATES ‘INVESTING IN MANUFACTURING’ COMMUNITIES AT WALMART SUMMIT
U.S. Secretary of Commerce Penny Pritzker announced 12 new communities that have received designations under the Obama administration’s Investing in Manufacturing Communities Partnership (IMCP) initiative during the recent U.S. Manufacturing Summit at Walmart’s headquarters in Bentonville last week.
Pritzker first announced the U.S. Commerce Department-led program in May. It is designed to accelerate the resurgence of manufacturing in communities nationwide by supporting the development of long-term economic development strategies.
“An IMCP designation is an important signal to potential investors that these communities are a good place to spend their money, and this is smart government at work,” said Secretary Pritzker. “By breaking down silos and encouraging communities to take a more thoughtful, comprehensive approach to their strategic plans, we are ensuring that precious federal dollars are used on the most high impact projects and in a way that maximizes return on investment.”
To learn more about the program, click here.
USDA HIGHLIGHTS ARKANSAS COMMUNITIES IN ANNUAL ‘MADE IN RURAL AMERICA’ INITIATIVE REPORT
The U.S. Department of Agriculture (USDA) has released its updated state-by-state report for its “Made in Rural America” initiative, highlighting the fact that the export of farm and ranch products contributed $4 billion to the Arkansas economy in the past year.
In 2014, the USDA said it invested in 577 local food projects across Arkansas, helping to develop food hubs, small-scale processing, farmers markets and other market opportunities in local food. Overall, the USDA said it has invested $16 million to help rural manufacturers in Arkansas increase production and capacity, helping to support many of the state’s 75,614 blue collar jobs in rural areas of the state.