Lockheed eyes Manila

Lockheed eyes Manila

MANILA (AFP): Lockheed Martin Corp. of the United States has signed an agreement with a local firm to conduct a feasibility study on a proposed aerospace center in the Philippines, the presidential palace said yesterday.

The agreement was signed Monday in the presence of Philippine President Fidel Ramos by Thomas Killy, Philippine representative of Lockheed Martin International, and the H. Thomas Group Inc., a holding firm with investments in the transportation and communication sectors, a palace statement said.

The palace gave no other details of the project, but quoted H. Thomas Group chief executive Tom Navasero as saying the project "could help address some of the Philippines' highest priorities, specifically technology transfer and infrastructure development."

Killy said the proposed project would "broaden the industrial base with the emergence of a reinvigorated aerospace industrial business," the statement added.