OTTAWA, Ontario, Aug. 16, 2017 /PRNewswire/ -- Lockheed
Martin (NYSE: LMT) has successfully completed the Aircraft
Capability - Tactical (ACP-T) Acquisition Industrial Regional
Benefits (IRB) commitments valued at $1.4
billion associated with Canada's purchase of 17 CC-130J Super Hercules
aircraft in 2007.
Lockheed Martin completed its IRB commitments one year ahead of
schedule and met all of its requirements within small and medium
enterprises, aerospace and defence, and strategic aerospace and
defence technology sectors and for specific regional projects in
the Atlantic, Quebec, Ontario and Western regions.
To fulfill this commitment, Lockheed Martin engaged in 76
individual transactions involving Canadian companies and
universities to financially support, develop, and competitively
sell innovative technology products and services in addition to
providing critical research and development funding.
"The completion of the project is an exceptional accomplishment
and result of extensive collaboration for both the Lockheed Martin
and ISED teams," said Charles
Bouchard, chief executive of Lockheed Martin Canada. "The
investments made across Canada as
a result of Canada's purchase of
17 CC-130J Super Hercules aircraft is a prime example of how
defence procurement projects serve as a catalyst to ignite a
culture of innovation and critical research and
development."
Earlier this year, at CANSEC, Minister Navdeep Bains Minister for Innovation Science
and Economic Development (ISED) highlighted GasTops, Contextere,
Solace Power, Metamaterial Technologies and Mannario as five
Canadian companies who have benefited as recipients of Investment
Framework (IF) projects directly related to the C-130J.
Lockheed Martin Canada has been Canada's trusted defence partner for more than
75 years specializing in the development, integration and
sustainment of advanced technology systems, products and services.
The company employs more than 900 employees at major facilities in
Ottawa, Montreal, Halifax, Calgary, and Victoria, working on a wide range of major
programs including the on-going in service support of the CC-130J
fleet, the maritime helicopter project which includes delivering
and sustaining the new CH-148 Cyclone fleet, as well as the
recently successful completion of the Halifax Class modernization
project.
"We are proud to support the Royal Canadian Air Force and its
CC-130J Super Hercules fleet, which is one of the largest in the
world. We not only had the distinction of delivering these C-130Js
to the RCAF, but we also have the opportunity to partner with them
to support and maintain these vital assets. Knowing that the
CC-130J is responsible for fostering cutting-edge technology within
Canada's business and higher
education communities through these economic grants is a fitting
reflection of Lockheed Martin's commitment to innovation," said
George Shultz, Lockheed Martin's
vice president and general manager, Air Mobility & Maritime
Missions.
Lockheed Martin's CC-130J Super Hercules has served as the
workhorse for the Royal Canadian Air Force (RCAF) since 1960. In
that time legacy Hercules aircraft have supported many critical
missions for Canada — from flying
troops and essential equipment to Canada's northern most region, being called
upon to fly search and rescue missions, to delivering critical
humanitarian supplies for global relief efforts. It functions
as the backbone for the RCAF's tactical airlift
fleet.
About Lockheed Martin
Headquartered in Bethesda,
Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
97,000 people worldwide and is principally engaged in the research,
design, development, manufacture, integration and sustainment of
advanced technology systems, products and services.
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SOURCE Lockheed Martin Aeronautics Company