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Lockheed Martin Enlists Astrolink Partners

CALIFORNIA | BRIEFLY: AEROSPACE

May 07, 1999| Bloomberg News

Lockheed Martin Corp. announced a partnership with TRW Inc. and Telecom Italia, Italy's largest phone company, for the development of its Astrolink venture, a $3.6-billion satellite system that will provide global, broadband multimedia and Internet access. Lockheed Martin will own 46% of Astrolink, investing $400 million, while Cleveland-based TRW and Telecom Italia both will invest $250 million. Lockheed Martin will provide the satellites and the launchers. Telecom Italia will contribute ground-control systems and marketing services, while TRW will provide the communications transponders. Bethesda, Md.-based Lockheed Martin expects that its Astrolink project will be the first in service, beating out competitors such as Hughes Electronics Corp.'s Spaceway project. The system will use four geostationary satellites, which are to be built by Lockheed Martin in Sunnyvale, Calif. The transponders and satellite circuitry are being built by TRW in Redondo Beach.

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