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WTF is a SPAC?
(CNN Business) —  

Lockheed Martin CEO Marillyn Hewson said Wednesday that the company will keep its manufacturing plant in Coatesville, Pennsylvania, open following a discussion with President Donald Trump.

“It’s a good operation with an excellent workforce,” Hewson said in a statement. “We look forward to working with the government and PA Congressional delegation to find more work for this facility.”

The plant is under Sikorsky, the Lockheed-owned firm that was previously awarded a $542 million Department of Defense contract to build the next generation of presidential helicopters.

Sikorsky won the bid after Trump toured a prototype of the chopper at the White House in June. The VH 92 helicopter, which will be placed in service in 2020, made a practice landing on the South Lawn. During his time as a businessman, Trump owned multiple aircraft, and has long paid attention to the details of his air travel.

The Philadelphia Inquirer reported last month that Lockheed planned to shut down the plant by the end of the year, affecting around 465 employees.

It is unclear if the Coatesville plant will construct any of the components for the new presidential helicopters.

After the announcement, Trump thanked the company and called it “one of the USA’s truly great companies!”

– CNN’s Matthew Hoye contributed to this report.