Trump presses Lockheed to keep open a Pennsylvania plant slated for closure

Published 06/14/2019, 10:14 PM
© Reuters. FILE PHOTO: U.S. President Trump hosts White House showcase of American-made products in Washington
LMT
-

(Reuters) - U.S. President Donald Trump on Friday urged Lockheed Martin Corp (NYSE:LMT) to keep open its Sikorsky helicopter plant in Coatesville, Pennsylvania, a week after the weapons maker announced the planned closure of the facility.

The F-35 fighter jets maker had announced plans to close the plant, which does "completion work" for Sikorsky's S-92 and S-76D helicopters, citing a multi-year slump in the rotorcraft industry, possibly due to the protracted downturn in oil prices. The plant employs about 465 employees.

Trump wrote on Twitter that he had spoken with Lockheed Chief Executive Officer Marillyn Hewson "about continuing operations for the Sikorsky plant in Coatesville," while adding that "she will be taking it under advisement and will be making a decision soon."

"While Pennsylvania is BOOMING, I don't want there to be even a little glitch in Coatesville - every job counts. I want Lockhead to BOOM along with it!" Trump wrote, misspelling the name of the company.

Pennsylvania often is a pivotal state in U.S. presidential elections. Trump, who is seeking re-election in 2020, won the state in the 2016 election. Coatesville is roughly 40 miles (65 km) west of Philadelphia.

Lockheed confirmed that its CEO had a conversation with Trump about possible future alternatives for the plant.

"We had an open and constructive conversation and I agreed to explore additional options for keeping the facility open," Lockheed wrote on Twitter, quoting Hewson.

Lockheed had previously planned to close the plant by the end of this year.

© Reuters. FILE PHOTO: U.S. President Trump hosts White House showcase of American-made products in Washington

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.