Lockheed Martin plans to expand Milwaukee plant workforce by 15%

Business

FILE PHOTO: The logo of Lockheed Martin is seen at Euronaval, the world naval defence exhibition in Le Bourget near Paris, France, October 23, 2018. REUTERS/Benoit Tessier

(Reuters) – Defense contractor Lockheed Martin Corp (LMT.N) said on Friday it plans to increase the workforce at its Milwaukee facility by more than 15% this year.

The announcement came after President Donald Trump gave a 30-minute speech on trade at the plant run by Derco, a unit of the F-35 fighter jet maker.

Derco, which makes aircraft spare parts, also provides logistics and technical support for fixed-wing planes. (bit.ly/2LPg4Eh)

Trump has campaigned on rebuilding the manufacturing sector to create high-paying American manufacturing jobs, partly by pushing other countries for more favorable terms on trade.

Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta

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