Two years on from the stunning announcement of the merger of US giants Lockheed and Martin Marietta, the match seems truly to have been made in Heaven.
Norman Augustine, president and chief executive officer of what became the largest aerospace company in the world, notes the "remarkable ease" with which the two corporations became one. Augustine attributes much of that success to the fact that Lockheed Martin is actually a combination of 17 companies, including the former General Dynamics and Loral.
"We think it is easier to bring together 17 companies than it is two. We are all in the minority and that is a great advantage when you are trying to build a new culture," says Augustine.
Augustine believes the time for acquisitions is now passing, but he is keen to forge international partnerships and is using the opportunity of Farnborough to further discussions.
"The bottom line is that we are here to work together as equals with companies in Europe on a whole host of different models," says Augustine.
The CEO is not without his concerns, however. "The future of international business for us depends on whether or not people build walls around the USA or Europe," says Augustine.
"Lockheed Martin is taking a leading role in persuading Congress not to do that and we feel also that a Great Wall of Europe would be very damaging. Trade walls have never worked."
What Augustine would like to see is more merging of European aerospace companies - either within national boundaries or across Europe. "We would hope that the European aerospace would consolidate further because we view the Europeans as major allies of America and it is in all of our interests to have a strong industrial base in Europe.
"Secondly, we need healthy partners in Europe in order to be able to compete with the rest of the world."
Source: Flight Daily News