BETHESDA (dpa-AFX) - Lockheed Martin Corporation (LMT), the aerospace and defense major, Wednesday announced that it is expanding its manufacturing capacity to accelerate production of critical munitions in Texas.
The company expects this expansion to create 6,000 jobs across the United States including 2,000 in Texas.
At the center of this is the Grand Prairie operation, where the company is investing $300 million and expanding its manufacturing footprint to more than 735,000 square feet. The expansion includes 100,000 square feet of new space and 85,000 square feet of office space being transformed for advanced manufacturing, creating additional capacity for automation, digital manufacturing and high-precision machining.
Further, Hadrian will bring a highly automated machining cell to the Grand Prairie facility, that will be operated by Lockheed Martin production workforce and is surmised to be operational in early 2027. The 24-machine cell will bring commercial-style manufacturing technology directly into Lockheed Martin's production environment and add dedicated capacity for critical defense components.
'Lockheed Martin is building a manufacturing model designed for speed, scale and sustained production, bringing together the best of defense and commercial manufacturing to build a more resilient, automated and digitally integrated production model designed to deliver critical capabilities faster.', the company said in a statement.
This follows Lockheed Martin's recently announced collaboration with GM Defense to apply commercial automotive manufacturing expertise to defense production.
On Wednesday, shares closed at $522.23, up 3.61% on the New York Stock Exchange.
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