TETRA TECH WINS LOCKHEED PACT.Byline: Dereck Andrade Staff Writer PASADENA - Tetra Tech Inc., an environmental management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm, has won a $10 million contract from Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. to support several energy, environmental and safety projects. Officials of Tetra Tech, headquartered in Pasadena, said Thursday that the five-year contract will be extensive, encompassing Lockheed Martin facilities nationwide. Lockheed Martin, based in Bethesda, Md., already has assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. $3 million in work under the contract, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tetra Tech officials. Part of the contract calls for Tetra Tech to provide other technical services to Lockheed Martin's active and discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . The consulting work is expected to be performed both on fixed-price and time-and-materials terms. The new contract extends and expands Tetra Tech's 11-year relationship with Lockheed Martin. Tetra Tech provides engineering and construction services for public and private facilities and for water-supply systems water-supply system Facilities for the collection, treatment, storage, and distribution of water. Ancient systems included wells, storage reservoirs, canals and aqueducts, and water-distribution systems. Highly advanced systems appeared c. , according to Hoovers, an online business profile service. U.S. federal, state, and local governmental contracts account for about 45 percent of Tetra Tech's sales, which were $730.1 million, with net income of $30.8 million, in 2001, according to Hoovers. Shares of Tetra Tech closed at $17.70, down 67 cents or 3.65 percent, on the Nasdaq stock exchange on Thursday. Tetra Tech's stock has fluctuated from a 52-week high of $25.10 to a 52-week low of $13.60. |
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