Molten Metal, Lockheed Form Alliance

Molten Metal Technology said on Friday that it and Lockheed Martin Corporation plan to enter into an alliance under which Molten will become a primary technology subcontractor to a project team led by Lockheed.

The Lockheed team is one of two that recently won the first phase of a United States department of energy (DOE) bid to beginefforts toward the cleanup of radioactive tanked waste at the energy department site in Hanford, Washington.

Additionally, Molten Metal will assist the Lockheed Martin Corporation team this year in pursuit of the second phase, which is scheduled to be awarded in 1998.

The agreement also calls for the two firms to form a new limited liability company to deliver processing services to customers in the chemical demilitarization market, and rights for that market have now been expanded worldwide.

 

Molten Metal Technology will become sole owner of limited liability firm M4 Environmental, which will continue to own and operate its primary asset, the M4 Technology Center in Oak Ridge, Tenn.

The agreement is expected to be finalized in thirty days, Molten Metal said.