Lockheed Martin Launches Missile Defense Unit

HUNTSVILLE, Ala. (AP) -- Lockheed Martin Space Systems Co., a division of defense contractor Lockheed Martin Corp., said Tuesday that it has established a new missile defense systems operating unit based in Huntsville, Ala.

The new unit includes program management, engineering and production facilities in Huntsville and Courtland, Ala., as well as program operations in Denver and Sunnyvale, Calif.

Ret. Army Major General John W. Holly was named vice president for missile defense systems and will lead the new operating unit, the company said.

Holly joined Lockheed Martin in January 2008 and most recently served as its vice president of Huntsville operations. His military career spanned more than 30 years and culminated as the deputy director for the Missile Defense Agency.

In afternoon trading, Lockheed Martin shares slid 30 cents to $74.41.

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