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    Orbital merger boosts Loudoun

    Orbital Sciences Co., the Dulles-based satellite and rocket builder, announced a merger with Alliant Techsystems of Arlington to create a $5 billion aerospace and defense company that will be based at Orbital’s campus in Loudoun County. The company will employ 4,000 people in Northern Virginia and Maryland, and about 13,000 people across the country.

    The new company, to be called Orbital ATK Inc., will serve U.S. and international customers with leading positions in the markets for space launch vehicles and propulsion systems, tactical missiles and defense electronics, satellites and space systems, armament systems and ammunition, and commercial and military aircraft structures and related components.

    As part of the transaction, ATK will spin off its Sporting Group, which focuses on commercial sporting equipment, to its shareholders. The new company will combine Orbital’s small- and medium-class satellite and launch vehicle product lines with ATK’s rocket propulsion, composite structures and space power systems to produce space and missile defense products.

    From its Dulles headquarters, Orbital ATK will employ over 4,300 engineers and scientists and 7,400 production and operations specialists, at engineering centers, research laboratories, manufacturing facilities and test and launch sites in 17 states.

    The merged company expects to receive about 30 percent of its revenue from commercial and international business, 35 percent from non-defense government agencies like NASA and the Department of Energy and 35 percent from government defense agencies.

    The top executives of both companies said they spent six months discussing the all-stock deal, calling it a "merger of equals" that complement each others business. The new company will be based at Orbital's campus in Dulles and Orbital CEO David Thompson will lead it. Thompson will be president and CEO of the new company.

    
“This merger-of-equals combination of Orbital and ATK Aerospace and Defense brings together two of the space and defense industry’s most innovative developers and cost-efficient manufacturers who have worked closely together for over 25 years,” Thompson said in a statement.

    Comments

    @Everett forgot to mention his lady friend and that he goes to the gym.

    He usually works that in somehow.

    How much ya bench


    Tysons has been a business hub for quite some time.  I don’t think you can compare the two at all.  Loudoun is still in it’s nascent stages and finding itself.  Tysons on the other hand has been host to these companies for decades. 

    No one is denying that work needs to be done; hence the economic development efforts.


    Yes, Ashburn Fella this is a step in the right direction. Jobs like this stimulate the local economy and keep my property value high.

    However, work still needs to be done. I notice Tysons Corner has a lot of big employers such as BAE, Leidos/SAIC, Big 4 accounting firms, Freddie Mac, Booz Allen, etc..


    @Everett - This is good news right?  Two days after the burger story, we now have a story talking about a much larger transaction.  I’m curious as to what this means in terms of actual jobs created locally; clearly the industry generates high paying, sustaining jobs.

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    Loudoun Business Journal - Summer 2014

    Loudoun Business Journal - Spring 2014