Lockheed Martin reportedly plans to open a subsidiary in Israel that will employ hundreds of workers.
The American aerospace and defense contractor also is looking to purchase Israeli companies and integrate itself into the Israeli economy and its domestic security market, the Israeli daily newspaper Maariv reported Sunday.
Lockheed Martin Executive Vice President Patrick Dewar made the announcement over the weekend during a visit to Israel, according to the newspaper.
Work on the project is set to begin immediately, Dewar said. The plans to open a subsidiary reportedly will supplant previously announced plans to open a facility in Israel specializing in information technology.
Israel’s Air Force in 2010 ordered 20 F-35 stealth fighter jets from Lockheed Martin. In April, the state-owned Israel Aerospace Industries was hired to build the wings for Lockheed Martin’s F-35 Joint Strike Fighter. IAI already produces wings for the Lockheed-produced F-16 and the U.S. Air Force’s T-38 trainer aircraft.
The company is a major supplier of technology to the Israel Air Force.