Military Procurement International Vol. 19, No. 7, April 1, 2009
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9, Switzerland. It is unlawful to reproduce any of this publication without written permission from the publisher.
President to re-nationalise LMAASA
On March 17, Argentine President Cristina Kirchner announced that she had submitted a bill to Congress that would re-nationalise Lockheed Martin Aircraft Argentina SA (LMAASA). If the bill is approved by Congress, Argentina will pay Lockheed Martin US$64 million for its shares in the company, which employs 1,200 people and has annual revenues of US$50 million.
The Cordoba-based Fabrica Militar de Aviones was sold in 1995 to Lockheed Martin, which re-christened the company and initially used the factory to upgrade the Argentine Air Force’s IA-63 Pampa jet trainers. It now provides depot maintenance for the Air Force and other military and commercial customers.