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[April 20, 2014]
Northrop Grumman to signifcantly expand international, non-defense business, CEO says [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) WASHINGTON (CI MENA) – Northrop Grumman (NYSE:NOC) chief executive Wes Bush said the US defense group is seeking to significantly expand its international sales and non-defense commercial operations.
Speaking to Capitol Intelligence following an Economic Club of Washington interview with Carlyle co-founder David Rubenstein, Bush said the company is moving to aggressively boost sales outside of the United States from its current level of 10%.
Bush said Northrop Grumman will target new markets, including the Middle East and Africa, to increase the company's international footprint.
However, Bush said Northrop Grumman strategic focus remains the defense industry and prefers to work with partners in the non-defense sector.
Bush also said he sees the defense industry going through a similar wave of M&A led consolidation that occurred in the 1990s and early 2000. He noted that Northrop Grumman itself was a product a major M&A deals. He declined to comment on whether Northrop could seek a merger with Lockheed Martin (NYSE:LMT).
by PK Semler in Washington, DC.
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