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Lockheed Martin to Buy Sikorski Aircraft

A multi-billion dollar deal for Lockheed Martin, but what will it mean for the thousands of Lockheed worker's at the company's Owego plant?

Monday the company announced it is acquiring Sikorski Aircraft in a $9 billion deal. The cost is reduced to just over $7 billion after tax benefits. The deal is expected to close late in the fourth quarter of 2015 or early in the first quarter of 2016.

Lockheed says it will review alternatives for it's government IT and technical services businesses, a division with more than 17,000 employees. A spokesperson for the company says he doesn't have information on whether the deal will effect the roughly 2,600 employees in Owego. He says upon closing of the deal, the company will review all operations to identify ways to improve efficiency and affordability but it’s too early in the process to go into further detail.