Lockheed Martin Corporation (NYSE:LMT) fell 0.49% as at 10:08 AM EDT trading at $216.18 after the company announced that it will pay the settlement on Kentucky plant. The company will be paying $5 million over some of the violations at the Kentucky plant.
Lockheed was accused of certain false claims as payments under their contract so that it can operate its plant. As a result, the company violated the law over keeping and managing dangerous waste.
Lockheed Martin on the other hand has adopted a pro-environment strategy when running the business. It focuses on two main corporate initiatives, Target Zero and Go Green.
Target Zero aims at making a company that has zero injury rates at work. Go Green on the other hand aims at eliminating pollution and hazardous environmental impact coming from aeronautics operations.
The company also announced that it will be purchasing solar energy produced by Duke Energy Renewables. The aim is to provide pure and clean energy to all company’s domestic business segments.
Currently, Lockheed is using 260,000 MWh of green power yearly. According to the company this is enough to fulfill 16% of the company’s electric use.