by William White | June 13, 2014 12:26 pm
Lockheed Martin (LMT), a global security company, has announced plans to evacuate all of its employees from Iraq.
Lockheed Martin decided to pull its employees out of Iraq over safety concerns. These concerns were caused by escalating violence in the country due to Sunni militants. These militants claimed two more cities in Iraq this week, including the country’s second-largest city, Mosul, reports The Los Angeles Times.
Lockheed Martin hasn’t announced how many employees it has in Iraq, but it has confirmed that all of them are safe for the time being. These employees were in the country to support its F-16 program, L.A. Times notes.
Iraq may have recently obtained 36 F-16’s from Lockheed Martin, but it can’t use them against the Sunni militants. While the planes have been signed over to the country, it will still take them months to be transported there and there aren’t yet any pilots in the Iraqi military trained to fly them, reports International Business Times.
LMT shares were up 1% as of Friday afternoon.
The opinions contained in this column are solely those of the writer.
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