
Lockheed Martin has invested $100 million in Terran Orbital (NYSE: LLAP) to expand the company’s manufacturing operations. Terran’s stock is up 7 percent to $2.74 today.
“Terran Orbital intends to use the funds to acquire additional satellite assembly space, increase module production, and satisfy working capital needs while expanding advanced manufacturing abilities,” the company said in a press release. “Terran Orbital’s advanced manufacturing capabilities, which were originally planned for expansion on Florida’s Space Coast in partnership with Space Florida, have been accelerated and will now be based in Irvine, California. Terran Orbital has added over 140,000 square feet in Irvine alone in the past 12 months.”
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