Lockheed Martin Urges IAM Employees to Vote in Favor of New Contract

/PRNewswire/ -- Lockheed Martin (NYSE: LMT) has urged employees represented by the International Association of Machinists and Aerospace Workers (IAM) to vote in favor of a new three-year contract Sunday.

Company and union negotiators failed to reach tentative agreements in three separate sets of contract negotiations that concluded March 3 in Point Clear, Ala. The proposed agreements would cover the nearly 6,000 IAM represented employees at Marietta, Ga.; Palmdale and Sunnyvale, Calif.; and several field locations.

"We are disappointed that the union bargaining committees rejected what we feel is an industry leading offer that would provide substantial wage and benefit improvements over the life of the contract and maintain Lockheed Martin's ability to deliver affordable solutions to our customers in an increasingly challenging budget environment," said Greg Karol, corporate vice president of labor relations. "This is a fair and equitable offer and we strongly encourage the union membership to review the proposed agreement and vote in favor of ratifying the new contract."

The Company's Best and Final Offer includes a competitive wage package that provides guaranteed pay increases over the next three years through a combination of three general wage increases totaling 8.5 percent over three years, a $2,500 ratification bonus and continuation of the annual cost of living adjustment (COLA) formula and supplements.

Current employees to retain industry-leading pension with substantial increase:

Current represented employees, hired before March 6, 2011, will maintain their defined benefit pension plan with an increase of $11 to $88 per-month, per-year of service, representing a 14% increase in their pension. Current employees will also continue to accrue service under this plan as they have under prior agreements.

Employees hired on or after March 7, 2011, receive new retirement plan:

New hires and rehires as of March 7, 2011 will be able to save for retirement with a new plan: the Hourly Capital Accumulation Plan (HCAP) with a guaranteed quarterly company contribution of $350 for their retirement. Employees eligible for HCAP are immediately vested in the plan, which has multiple investment options and is portable if employees leave the Company.

Lockheed Martin must remain competitive in increasingly challenging marketplace:

The transition to an Hourly Capital Accumulation Plan for new hires is an important step Lockheed Martin is taking to remain competitive in our industry. The vast majority of companies, including many of Lockheed Martin's competitors, do not offer defined benefit pension plans. The Corporation is taking action to position itself for the future with similar changes for newly hired and rehired employees while maintaining and improving the defined benefit pension for current employees.

Represented employees urged to exercise right to vote on new contract:

The proposals now go to the union memberships for consideration and are scheduled for votes on Sunday, March 6, 2011. Employees are urged to carefully review this information to have a full understanding of the facts of this offer before voting on Sunday.

"Lockheed Martin has had a long-standing partnership with the International Association of Machinists and Aerospace Workers," Karol said. "We value all the success we've had together and will continue working to strengthen that relationship while ensuring Lockheed Martin remains competitive. That means more jobs well into the future. We urge all IAM employees covered under these agreements to exercise their rights to vote on Sunday."

Find information about the proposed agreement at www.lockheedmartin.com/negotiations.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 132,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's 2010 sales from continuing operations were $45.8 billion.

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Lockheed Martin Marietta Facility Kicks Off F-35 Lightning II Center Wing Assembly Production

/PRNewswire/ -- Officials at the Lockheed Martin (NYSE:LMT) facility here formally announced the start of F-35 Lightning II center wing production operations at the plant during a ribbon cutting ceremony Tuesday.

Actual center wing assembly work for the multi-role 5th generation aircraft will begin July 30 in the Marietta site's massive B-1 aircraft production building. The F-35 work area will occupy more than 320,000 square feet, and the assembly activity is projected to employ more than 600 workers by 2016 as the program ramps up to full-rate production of one aircraft per workday.

The F-35 is a true international program with eight countries partnering with the U.S. to develop and produce the aircraft. Final assembly of the F-35 Lightning II stealth fighter takes place at the Lockheed Martin facility in Fort Worth, Texas. Establishing the program's center wing assembly operation in Marietta helps alleviate capacity constraints at the Fort Worth location while taking advantage of available manufacturing capacity and 5th generation aircraft production expertise the Marietta site offers.

"This is a very proud day for us in Marietta as we begin to support production of the largest military aircraft acquisition program in history," said Lee Rhyant, executive vice president and general manager of the Lockheed Martin Marietta site. "We have state-of-the-art facilities, and our workers have the skill, the dedication and even the 5th generation fighter expertise to build this critical component. We're ready to support the F-35 now and in the future; it's time to get to work."

According to Larry Lawson, executive vice president and general manager of the F-35 program for Lockheed Martin, the Marietta center wing assembly operation will play an important role in meeting customers' needs for an affordable, high-quality product.

"Marietta's available facilities, tooling and worker experience with the F-22 are key enablers for F-35 program production," said Lawson. "The operations here will help us realize greater efficiencies, deliver quality and meet F-35 production rates."

The F-35 Lightning II is a 5th generation fighter, combining advanced stealth with fighter speed and agility, fully fused sensor information, network-enabled operations, advanced sustainment and lower operational and support costs. Lockheed Martin is developing the F-35 with its principal industrial partners, Northrop Grumman and BAE Systems. For more information on the F-35 program, visit http://www.lockheedmartin.com/products/f35/.

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Lockheed Martin Awarded Customs and Border Protection P-3 Orion Fleet Maintenance Contract

/PRNewswire/ -- Lockheed Martin (NYSE: LMT) has been awarded an $821 million maintenance, repair, and overhaul contract for the Customs and Border Protection (CBP) P-3 Orion fleet. The contract is for a base period of one year, with nine additional one-year options. CBP currently operates 16 P-3s, updated with a suite of modern surveillance sensors oriented towards conducting homeland security missions.

"We are extremely proud to support Customs and Border Protection's homeland security missions, and honored by the trust and confidence that CBP has placed with Lockheed Martin to maintain this critical capability," said Ray Burick, Lockheed Martin vice president of P-3 programs. "The Customs P-3s have a mission that is unique within the P-3 community. It is our privilege to lend our efforts to support that mission."

Work on the contract will be performed at multiple facilities. The operational portion - aircraft launch and recovery, daily maintenance, short-term phase maintenance, and minor modifications - will be performed by Lockheed Martin personnel at CBP operational sites. Depot maintenance will be performed primarily at Lockheed Martin's Greenville, S.C., facility.

"The Customs and Border Protection program is a great example of the benefits of effective government/industry partnerships," said Rob Weiss, Lockheed Martin executive vice president for Global Sustainment. "Our priority is to provide all of our customers with integrated life-cycle solutions that ensure operational effectiveness and readiness at best value."

In April 2008, CBP contracted with Lockheed Martin under the P-3 Aircraft Service Life Extension Program (ASLEP), ordering up to 14 all-new production wing life extension kits. To date, CBP has placed firm orders for six life extension kits. ASLEP is the only P-3 life extension program validated by the OEM to extend P-3 service life 20-25 years, equating to 15,000 additional flight hours. A total of 47 ASLEP kits have been ordered from five P-3 operators which include Norway, CBP, the U.S. Navy, Canada and Taiwan.

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Lockheed Martin's Environmental Focus Earns 'Green' Awards at Company Operations in Texas, Georgia and California

/PRNewswire-FirstCall/ -- Lockheed Martin (NYSE:LMT) has invested more than $40 million since 2001 in capital improvements to increase energy efficiency and lower emissions from its business operations. As a result, Lockheed Martin saves more than 125 million kilowatt hours of energy annually - enough to power 10,000 homes for a year.

In 2007, the Corporation launched a comprehensive environmental program with the long-term goal of eliminating adverse impact on the environment as a result of its operations. This includes annual carbon, waste, and water use reduction goals and an aggressive 2012 target of an absolute 25 percent reduction in each of those areas.

"At Lockheed Martin, we recognize the value of effective environmental, safety and health programs," said Bob Stevens, Lockheed Martin's Chairman, President and Chief Executive Officer. "Our Energy, Environment, Safety & Health (EESH) team supports our customers' objectives, builds community confidence, promotes employee health and well-being, and helps us to achieve our business goals. Most significantly, delivering environmental and safety excellence is the right thing to do for this and future generations."

The company recently won several awards for environmental stewardship at its operations in Fort Worth, Texas; Marietta, Ga.; and Palmdale, Calif. Some examples of accomplishments follow:

Fort Worth - The North Texas Clean Air Coalition awarded Lockheed Martin Aeronautics several clean air awards, including the TryParkingIt.com Employer Highest Participation Rate award. In addition, the company also received the Clean Air Champion and Vanpool of the Year award. Company employee Debbie Boles, a data processor, won the TryParkingIt.com Individual award for reducing her community mileage by 14,580 miles in a year.

Marietta - The Partnership for a Sustainable Georgia recognized Lockheed Martin Aeronautics with the Continual Improvement Award. The Partnership presents this award annually to an organization that makes strides toward a more sustainable Georgia.

"Lockheed Martin Aeronautics demonstrated environmental excellence by reducing hazardous waste, improving water quality, saving 27 thousand gallons of fuel, and reducing water use by 62.2 million gallons of water," said Suzanne Burnes, assistant director of P2AD and manager of the Partnership for a Sustainable Georgia. "We look to see other organizations in Georgia follow their lead."

Palmdale - The California Environmental Protection Agency awarded Lockheed Martin Aeronautics the state's Waste Reduction and Awards Program.

Last year the Palmdale facility diverted 1,094 tons of waste from landfills, reducing greenhouse gas emissions by 1.8 million pounds of CO2, and earned $156,167 (a total savings of $440,607) from recycling and reuse efforts. The state awarded the Lockheed Martin Palmdale facility with the WRAP award because it has incorporated waste reduction, reuse and recycling efforts into daily business activities and is steering the community along a path towards zero-waste.

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Lockheed Martin Recognized for Excellence in F-22 Raptor Sustainment

/PRNewswire-FirstCall/ -- Lockheed Martin's (NYSE: LMT) F-22 Raptor was recognized as the winner of the Contractor-Military Collaboration Of The Year award for F-22 Sustainment at an awards ceremony Dec. 3 at the Defense Logistics 2008 Conference in Arlington, Va.

The F-22 was designed for supportability and self-sufficiency with a focus on reduced logistics costs. The improved reliability resulting from the performance based logistics strategy of the F-22 Raptor is projected to save the taxpayer $14 billion, or more than 35 percent in support costs over the life of the aircraft.

"We have a strong government partnership, built on a foundation of trust, transparency of operations, and collaborative problem solving. We are very proud to receive recognition for this extraordinary team," said Dennis Haines, Lockheed Martin vice president for F-22 Sustainment.

The award follows recent recognition, in September, when Lockheed Martin and the F-22 team received the 2008 Performance Based Logistics System Level award from the Under Secretary of Defense for Acquisition, Technology and Logistics, at the Aerospace Industries Association Fall Product Support Conference.

Defense Logistics is a cross-Service examination of the issues surrounding logistics strategies and support. Running since 1999, the Defense Logistics Conference has become a set date on the calendars of 650+ logisticians and has proven to be the most influential forum of great logistics minds in the U.S.

A total of 183 production Raptors are currently on contract. The F-22 is built by Lockheed Martin in partnership with Boeing and Pratt & Whitney. Parts and subsystems are provided by 1,000 suppliers in 44 states. The F-22 is the only aircraft that blends supercruise speed, super-agility, stealth and sensor fusion into a single air dominance platform.

Raptors are assigned to six U.S. bases: Edwards AFB, Calif., Nellis AFB, Nev., Tyndall AFB, Fla., Langley AFB, Va., Elmendorf AFB, Alaska, and Holloman AFB, N.M. Raptors will also be based at Hickam AFB, Hawaii.

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Lockheed Martin Receives $156 Million Contract to Extend Canadian CP-140 Aurora Aircraft Service Life

/PRNewswire-FirstCall/ -- Lockheed Martin (NYSE:LMT) has received a $156 million contract to provide the P-3 Aircraft Service Life Extension Program (ASLEP) for the Canadian Forces' CP-140 aircraft fleet.

Under this contract, 10 Canadian CP-140 Aurora aircraft will receive Life Extension Kits consisting of all-new outer wings, center wing lower surface assemblies, horizontal stabilizers, wing and horizontal stabilizer leading edges, and various items to be installed on a conditional basis. Lockheed Martin Life Extension Kits will provide, on average, an additional 20-25 years of service life for the world's Orion and Aurora fleets and will greatly reduce maintenance costs over the aircraft's service life.

"Lockheed Martin Life Extension Kits will give the Canadian Forces an additional 15,000 flight hours of service life from their Auroras," said Ray Burick, Lockheed Martin vice president of P-3/S-3 programs. "The ASLEP solution leverages the knowledge and experience of Lockheed Martin as the original equipment manufacturer to support the P-3 and CP-140 aircraft."

Canada becomes the fourth customer under the Lockheed Martin P-3 ASLEP program. Other customers for the Life Extension Kits are the Royal Norwegian Air Force and the U.S. Customs and Border Protection. The U.S. Navy is under contract for 13 sets of new outer wings. A proposal for the Taiwan P-3 fleet is also in work.

"Lockheed Martin's ASLEP solution is the most cost-effective, lowest risk choice for long-term P-3 or CP-140 sustainment," said Burick. "As the P-3 original equipment manufacturer, Lockheed Martin is uniquely qualified to sustain and support the world's P-3 fleets."

Lockheed Martin is a major supplier of logistics systems and lifetime support and performance-based logistics services to military and civil government customers. The corporation provides solutions for platform maintenance, modifications and repair, material readiness and distribution, and global supply chain command and control.

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Lockheed Martin Delivers First of Four C-130J Airlifters to Royal Norwegian Air Force

PRNewswire-FirstCall/ -- Lockheed Martin (NYSE:LMT) delivered the first of four C-130Js to the Royal Norwegian Air Force at a ceremony today with U.S. and Norwegian officials at the company's Marietta, Ga, facility.

"As the first C-130J order under the U.S. Foreign Military Sales program, the Norway contract marks an important milestone for sales of the C-130J internationally," said Ross Reynolds, vice president of C-130 programs for Lockheed Martin. "Norway joins the growing list of countries that are realizing the flexibility of the Super Hercules and the benefits it brings to a nation's overall airlift capability. With the arrival of its new C-130J aircraft, the Royal Norwegian Air Force will have one of the most advanced cargo fleets in the world."

Other nations that are operating or have ordered the C-130J include Australia, Canada, Denmark, India, Italy, Qatar, the United Kingdom and the United States. A second ceremony will occur in Norway when the aircraft flies there at the end of the month.

The Norwegian Super Hercules are the longer fuselage, or "stretched," variant of the C-130J similar to those being delivered to the U.S. Air Force. Future C-130J deliveries to Norway will include one in 2009 and two in 2010.

"C-130Js provide greater availability, flexibility and reliability than other airlifters," said Reynolds. "Currently they are deployed in two combat theaters and are operating at a very high tempo, efficiently and reliably." In non-combat environments, the C-130Js are used in humanitarian relief efforts such as those following Hurricane Katrina, Thailand's tsunami and Myanmar's typhoon. The worldwide fleet of C-130Js has flown nearly half a million flight hours, with some C-130J operators flying as much as 1,000 hours per month.

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Lockheed Martin Receives Contract for Four C-130J Super Hercules Aircraft for Qatar

PRNewswire-FirstCall/ -- The State of Qatar has signed a $393.6 million contract with Lockheed Martin (NYSE:LMT) for the purchase of four C-130J Super Hercules airlifters plus training and spares with deliveries to begin in 2011. Qatar's new C-130Js will be the longer fuselage or "stretched" variant of the C-130J.

Since this is Qatar's first experience with C-130s, the package being provided by Lockheed Martin is a complete solution. The package includes four aircraft, training of aircrew and maintenance technicians, spares, ground support and test equipment, servicing carts, forklifts, loading vehicles, cargo pallets, and a team of technical specialists who will be based in Qatar during an initial support period.

"This acquisition of a fleet of C-130Js will provide our country with a highly flexible airlift capability," said Brigadier General Ahmad Ibrahim Al -- Malki, Chairman of the Qatar Emiri Air Force Airlift Evaluation Committee. "No other aircraft can do what a C-130J can do and we are proud to join the many, many countries around the world that operate the world's most successful airlifter."

"We also are extremely proud to be selected to provide the world's most advanced tactical mobility aircraft to meet Qatar's operational airlift needs," said Jim Jamerson, president, Middle East/Africa Region, Lockheed Martin Corporation. "The C-130J Super Hercules will equip the Qatari Emiri Air Force with proven, modern, and effective tactical and strategic airlift to support a wide range of Qatar's national requirements."

Qatar joins the rapidly growing number of nations with C-130J fleets including Australia, Canada, Demark, India, Italy, Norway, the United Kingdom and the United States.

The C-130J has become the standard by which all other airlift is measured in terms of availability, flexibility and reliability. C-130Js are currently deployed in two combat theaters and are operating at a very high tempo efficiently and reliably. In non-combat, but equally harsh environments, the C-130Js were first to support relief efforts after hurricane Katrina, Thailand's tsunami, Myanmar's typhoon and several earthquakes. The worldwide fleet of C-130Js has now flown nearly half a million flight hours, with some C-130J operator countries flying as much as 1000 hours per month.

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Lockheed Martin Inducts First C-5A Into Avionics Modernization Program

PRNewswire-FirstCall/ -- The Lockheed Martin (NYSE:LMT) C-5 Avionics Modernization Program (AMP) reached another milestone this week with the induction of the first U.S. Air Force C-5A into the program.

"The combination of hardware and software afforded through AMP allows Air Force crews to fly unrestricted anywhere in the world," said George Shultz, Lockheed Martin's vice president of C-5 Modernization. "Modernizing the C-5As today with new avionics further ensures this unique national asset will continue to support the warfighter for many years to come."

The AMP replaces the analog cockpit instruments and systems in the C-5 with digital displays and equipment. It also provides the necessary communications and navigational avionics to comply with Global Air Traffic Management (GATM) requirements, the new set of international standards for aircraft movement and reduced separation in flight.

There are 111 C-5s to be modified through AMP with 42 production airplanes completed to date. The AMP installations are taking place at Dover AFB and Travis AFB and are scheduled to be completed in second quarter 2014. The C-5 AMP fleet has flown more than 9,400 sorties and 40,000 operational flight hours.

The Air Force had the C-5As re-winged in the 1980s, increasing their structural service life to the equivalency of its C-5Bs. The C-5 has been the backbone of strategic airlift in every military engagement since it entered service and has supported U.S. humanitarian relief efforts around the globe. It is the only aircraft capable of carrying 100 percent of certified air-transportable cargo, with a dedicated passenger compartment enabling commanders to have troops and their equipment arrive in an area of operation simultaneously.

Lockheed Martin is a pioneer in sustainment initiatives, offering a number of flexible and individually tailored support solutions. The company is a major supplier of logistics systems and services to military and civil government customers, and provides solutions for platform maintenance, modifications and repair, material readiness and distribution, and global supply chain command and control.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 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 2007 sales of $41.9 billion.

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