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September 11, 2019 at 1:53 a.m.

Lockheed starts on expansion of plant

CAMDEN -- Construction is underway on the first part of Lockheed Martin's $142 million expansion at its southern Arkansas plant.

Executives with the Maryland company and Arkansas officials broke ground Tuesday on the new Long Range Fires Production Facility at the site at Highland Industrial Park.

Lockheed Martin and Gov. Asa Hutchinson in June announced the expansion of its facility, which will add 326 jobs by 2024. About 650 employees currently work at the Lockheed plant.

Construction for the 70,000-square-foot Long Range Fires facility is to be completed by the beginning of 2021.

The plant was established in 1978 as the home for production of Lockheed Martin's multiple-launch rocket system, which is still produced there.

-- The Associated Press

Walmart $500,000 going for Dorian aid

Walmart Inc. said Tuesday that it is donating $500,000 in cash and emergency supplies to help with Hurricane Dorian recovery and relief efforts in the U.S. and the Bahamas.

The Bentonville retailer's donation will support organizations like the American Red Cross and the Salvation Army, as well as government entities, in providing aid to affected areas in North Carolina, South Carolina and the Bahamas. The company is working with officials to meet the needs of the communities, a news release stated.

Walmart said it's also providing assistance to employees affected by the hurricane; providing prescriptions and immunizations to customers through Walmart and Sam's Club pharmacies; and working with suppliers to keep stores and clubs stocked.

In the past two years, Walmart and its charitable arm, the Walmart Foundation, have given nearly $50 million in cash, water, food and other necessities to aid victims of hurricanes, wildfires and tornadoes. Since Hurricane Katrina hit the Gulf Coast in 2005, Walmart and its foundation "have formalized our disaster response program to quickly help those who have been hit hardest," said Julie Gehrki, Walmart's vice president of philanthropy.

-- Serenah McKay

Dillard's up, Tyson down as index gains

The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, closed Tuesday at 436.98, up 6.58.

"Stocks finished mixed on Tuesday, weighed down by another wave of selling in technology shares as some Investors shift more towards value stocks," said Chris Harkins, managing director at Raymond James & Associates in Little Rock.

Dillard's Inc. shares jumped 12.7%. Tyson Foods shares fell 2.5%.

The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.

Business on 09/11/2019

Print Headline: NEWS IN BRIEF


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