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New Delhi, India, August 19, 2006 – Lockheed Martin [NYSE: LMT], the world’s premier defence contractor, is sponsoring a two-day conference in Bangalore this week to establish inroads for commerce between its current supplier team and Indian companies that could provide parts and services for Lockheed Martin products.
Representatives of approximately 50 Indian companies are expected to attend and learn about opportunities to work with Lockheed Martin and its industry teammates. Military equipment produced by Lockheed Martin include the F-16 multi-role fighter, F-35 Lightning II, C-130J transport, P-3 maritime surveillance aircraft and PAC-III. The company also provides a wide variety of other goods and services for use by governments, ranging from air traffic management systems to postal sorting.
About 15 associated U.S. and international companies will join Lockheed Martin in meeting with Indian firms. The list includes BAE Systems of the United Kingdom, Elbit of Israel, General Electric, Goodrich, Honeywell, Northrop Grumman, Pratt & Whitney, Raytheon, Smiths Industries and others.
“We intend to form relationships with both publicly and privately owned Indian companies that could work with us to meet licensed production and offset requirements related to future sales of the F-16 or other Lockheed Martin products,” said Orville Prins, Lockheed Martin’s vice president of Business Development for India.
“Indian companies have some excellent capabilities,” Prins said. “Lockheed Martin and our supplier team expect to establish agreements this year that will result in export sales from India. We hope these projects will mark the beginning of mutually beneficial long-term partnerships with Indian industry.”
Lockheed Martin has a long and successful record of offset or counter-trade participation, having accomplished projects valued at more than $40 billion (U.S.) in 37 different countries. More than 40 companies in a dozen different nations have produced parts for the F-16 aircraft, and nearly 1,000 F-16s have been delivered from manufacturing facilities in Belgium, the Netherlands, Turkey and South Korea.
Lockheed Martin offset programs have provided customer nations with technology transfer and participation in the development of new aircraft and systems, in addition to build-to-print component manufacturing. For example, Japan’s F-2 fighter and Korea’s new T-50 trainer both resulted from joint development projects established with Lockheed Martin.
Headquartered in Bethesda, Md., Lockheed Martin employs about 135,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion (U.S). |
