Martin Marietta Coping With Inherited Fraud Claim, Lost Satellite

From: The Washington Post | Date: October 7, 1993| Author: | Copyright information

Martin Marietta Corp. is recovering from a double case of heartburn brought on by its $3 billion acquisition of GE Aerospace in April.

The Bethesda-based company agreed yesterday to pay the U.S. government $6.7 million to resolve a claim that GE Aerospace's division in Pittsfield, Mass., fraudulently overcharged the government on a number of defense contracts from 1979 to 1988, five years before Martin Marietta's purchase.

That settlement was announced the day after ground controllers lost contact with a $220 million earth observation satellite, built in the early 1990s at a GE Aerospace ...

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