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Defence Giant Lockheed Martin Acquires N.S.-Based Undersea Warfare Company
The deal adds Ultra Maritime’s anti-submarine warfare systems and about 400 employees to Lockheed Martin’s portfolio.
- Last week, aerospace giant Lockheed Martin finalized its $3.45 billion acquisition of Ultra Maritime, a Nova Scotia-based firm specializing in undersea and anti-submarine warfare technology for allied navies.
- Founded in 1947 as Cossor Ltd., the company manufactures sonar solutions, sonobuoys, and torpedo defense systems to detect submarine threats for allied navies in more than 30 countries.
- The acquisition adds a manufacturing facility in Columbia City, Indiana, previously operated as ERAPSCO, which Lockheed Senior Vice President of Strategy, Technology and Business Development Mark Kenny said brings undersea expertise to the firm.
- In July, Lockheed Martin Canada partnered with Invest Nova Scotia to add up to 320 skilled jobs, committing up to $126 million in salaries and benefits to the local economy over five years.
- Global demand for advanced undersea warfare capabilities drove the purchase, as Lockheed President of Rotary and Mission Systems Stephanie Hill stated the move accelerates their commitment to allied partners worldwide.
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Lockheed Martin completes $3.4B acquisition of maritime defense company with Indiana presence
Global defense technology company Lockheed Martin now has its own presence in northeast Indiana after completing its $3.4 billion acquisition of Ultra Maritime, a manufacturer of advanced undersea warfare and anti-submarine warfare capabilities.
Lockheed Martin concluded the acquisition of Ultra Maritime last week.
·Montreal, Canada
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Total News Sources17
Leaning Left8Leaning Right1Center4Last UpdatedBias Distribution61% Left
Bias Distribution
- 61% of the sources lean Left
61% Left
L 61%
C 31%
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