Lockheed, Loral Merger Review

Lockheed Martin Corp.’s acquisition earlier this year of Loral Corp.’s electronics and information systems and services businesses still hasn’t had much impact on the former Loral Aeronutronic operation in Rancho Santa Margarita.

But D-day is drawing nearer.

Lockheed has now completed the first phase of a restructuring designed to absorb the various Loral units. The Rancho Santa Margarita operation, which has about 1,100 employees, now is part of the newly formed Lockheed Martin Electronics Sector.

Next step, says a company spokesman, is a facility-by-facility review to see where the meshing of the Lockheed and Loral units has resulted in gaps or overlaps. That study is expected to be completed this fall.

Employees, meanwhile, are understandably edgy. The Rancho Santa Margarita operation, which makes electronics for missiles and other applications, has had three owners and two addresses in the last six years, and has eliminated about 3,000 jobs in the past decade.