Lockheed, ICCO to Invest $15 Million in Romania, Mediafax Says

Lockheed Martin Corp. (LMT), the world’s largest defense company, plans to invest about $15 million with a Romanian company in a renewable energy project in the eastern European country, Mediafax reported.

The two companies want to install photovoltaic panels in an industrial park in the city of Brasov and create the country’s “first smart grid” private project, the Bucharest-based news service said, citing Calin Costan, the chairman of ICCO Group, the Romanian company involved in the project.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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