Lockheed Martin in $38.7m Romanian deal

Lockheed Martin will join a group of U.S. suppliers developing a flood prevention project in Romania that will be secured with a $38.7 million loan guarantee from the Export-Import Bank of the United States, according to the Baltimore Business journal. The loan guarantee will enable Romania to buy equipment, technology and services from Lockheed Martin and other companies to upgrade the country’s meteorological systems to protect against floods. Other suppliers involved in the project include Dell Inc., Baron Services Inc., Cisco Systems Inc., Hach Co., Harris Corp. and the National Weather Service. The deal will create jobs at companies across the United States, according to the Ex-Im Bank. The guaranteed lender on the transaction is New York Commerzbank AG and is backed by the Romanian Government. ZF