AEROSPACE

Lockheed to Buy Hughes Aircraft’s Stake in EOSAT: Lockheed Martin Corp. said it agreed to purchase Hughes Aircraft Co.’s share of their joint venture, the Earth Observation Satellite Co., a distributor of remote sensing data. Financial terms weren’t disclosed, but Lockheed Martin characterized the transaction as modest. Lockheed Martin, the Bethesda, Md.-based aerospace giant, said it now owns 100% of Earth Observation Satellite, or EOSAT, which will retain its name and become a company unit. The transaction is expected to close by the end of this month. EOSAT is headquartered in Lanham, Md. Los Angeles-based Hughes Aircraft is a subsidiary of General Motors Corp.