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Monday, July 14, 2008

Lockheed Martin urges transparency

Lockheed Martin Corp.'s chairman Robert J. Stevens on Sunday urged European regulators to further promote transparency and competition, warning that the idea that protectionism would strengthen markets is misguided.

Speaking on the eve of the aerospace industry's biggest air show, Stevens also said that the spending gap between the United States and European defense budgets threatens to create an unbridgeable trans-Atlantic capabilities gap.

Stevens said that Lockheed, the world's largest defense supplier, welcomed the European Commission's draft directive on defense procurement, which would open up the EU's 80 billion-euro-a-year ($118 billion) defense market to more cross-border competition.

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