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DUFF & PHELPS REVIEWS MARTIN MARIETTA'S CONSOLIDATION PLAN

 CHICAGO, Oct. 1 /PRNewswire/ -- Martin Marietta yesterday announced a facilities consolidation and employment reduction program stemming from a several-month review of the acquired General Electric Aerospace operation. The plan will reduce facilities from about 30 million to 25 million square feet and eliminate 11,000 people. Cost savings from the plan are estimated at $1.5 billion over five years. Severance pay and closing costs were provided for in a $500 million reserve at the time of the acquisition.
 Duff & Phelps views the consolidation plan as a plus for Martin Marietta and a logical step in the acquisition process. The current rating of Martin Marietta's notes and debentures is `A' (Single-A), its commercial paper is rated Duff 1.
 -0- 10/1/93
 /CONTACT: George Podrasky of Duff & Phelps Co., 312-630-4655/
 (ML


CO: Martin Marietta Corp. ST: Maryland IN: ARO SU: RTG

CK -- NY055 -- 7816 10/01/93 13:04 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:150
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