Export ban for Lockheed

ATLANTA (AP) - Lockheed Aeronautical Systems Co, the maker of the C-130 Hercules cargo plane, has been barred from receiving new export licences because of charges raised in a federal indictment. The State Department action against the subsidiary of Lockheed Corp, based in Marietta, Georgia, was disclosed in a filing the company made with the Securities and Exchange Commission this week.

Lockheed and two of its former executives are accused of making illegal payments to an Egyptian official to influence the buying of planes. Lockheed has denied wrongdoing.