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LOCKHEED ADVANCED DEVELOPMENT CO. WILL DEFER CONSTRUCTION OF HEADQUARTERS BUILDING

 LOCKHEED ADVANCED DEVELOPMENT CO.
 WILL DEFER CONSTRUCTION OF HEADQUARTERS BUILDING
 BURBANK, Calif., Feb. 10 /PRNewswire/ -- Lockheed Advanced Development Co. (LADC) announced today that construction of a $60 million company headquarters building in Palmdale, Calif., has been deferred until more is known about how Congress will deal with the administration's recent defense budget recommendations.
 Sherm Mullin, LADC president, emphasized that deferring construction of the headquarters building will not delay the company's relocation from Burbank to Palmdale, nor will it have any effect on employment.
 "We are proceeding with construction of several smaller facilities at our Palmdale plant to give us the additional space necessary for manufacturing and other operational requirements," Mullin said. "To accommodate other organizations scheduled to move from Burbank to Palmdale by year-end 1993, we will make use of two modular buildings, a modest expansion of one existing building and leased office space," he said.
 Mullin projected that LADC employment, now at approximately 4,600, will remain stable throughout 1992. Although about two-thirds of these employees now work in Burbank, Mullin expects that by 1994 all but an estimated 350 will be based in Palmdale.
 -0- 2/10/92
 /CONTACT: James W. Ragsdale of Lockheed Advanced Development, 818-847-6866/ CO: Lockheed Advanced Development Co. ST: California IN: ARO SU:


KJ-CH -- LA022 -- 8357 02/10/92 14:00 EST
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Publication:PR Newswire
Date:Feb 10, 1992
Words:218
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