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LTV ANNOUNCES AGREEMENT FOR ACQUISITION OF ITS AIRCRAFT AND MISSILE BUSINESSES BY LOCKHEED AND MARTIN MARIETTA

LTV ANNOUNCES AGREEMENT FOR ACQUISITION OF ITS AIRCRAFT AND MISSILE
 BUSINESSES BY LOCKHEED AND MARTIN MARIETTA
 DALLAS, Feb. 3 /PRNewswire/ -- The LTV Corporation (NYSE: QLTV) announced today it has reached an agreement in principle under which its aircraft and missile businesses would be acquired by a newly formed company jointly-owned by Lockheed Corporation and Martin Marietta Corporation.
 The transaction is subject to the terms of a definitive agreement which is expected to be executed shortly. Terms of the agreement were not disclosed.
 It is anticipated that current management of LTV Aerospace and Defense will be retained to operate the new company which is to be called the Vought Corporation.
 LTV announced plans in May 1991 to sell all of its aerospace and defense operations as a part of the company's Chapter 11 reorganization. LTV has been operating under Chapter 11 of the federal bankruptcy code since July 1986. Consummation of the transaction will require bankruptcy court approval.
 LTV is a diversified manufacturing company involved in steel, aerospace/defense and energy products.
 -0- 2/3/92
 /CONTACT: Charles M. Palmer or Jerry Dalton of LTV, 214-979-7941 or 214-979-7964; or Lynn Farris of LTV Aerospace and Defense, 214-266-2695/
 (LTV ML) CO: LTV Corporation; Lockheed Corporation; Martin Marietta Corpo ST: Texas, Maryland, California IN: ARO SU: TNM SB -- NY086 -- 6305 02/03/92 15:57 EST
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Publication:PR Newswire
Date:Feb 3, 1992
Words:223
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