Lockheed Martin (NYSE:LMT)
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--A Chinese-owned company is making circuit boards for the top secret next generation F-35 stealth fighters flown by the U.K. and the U.S., Sky News reported Friday.
--Exception PCB, a printed circuit board manufacturer in Gloucestershire, England, produces circuit boards that "control many of the F-35's core capabilities" including "engines, lighting, fuel and navigation systems," the report said, citing publicity material produced by the U.K. Defense Ministry.
--The ministry said the company presents "no risk" to the F-35 Joint Strike Fighter supply chain, although defense experts expressed concern that a Chinese-owned company is producing any parts for such a program, because of longstanding fears about Chinese espionage and rivalry, according to the report.
--Lockheed Martin Corp. (LMT), which heads the F-35 program, was unable to state categorically that no other Chinese-owned company was part of the program's global supply chain but said it was "not aware of any other Chinese-owned F-35 suppliers at this time," the report said, adding that Exception PCB didn't reply to emailed questions about its Chinese ownership.
Full story: https://news.sky.com/story/f-35-jets-chinese-owned-company-making-parts-for-top-secret-uk-us-fighters-11741889
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(END) Dow Jones Newswires
June 14, 2019 14:46 ET (18:46 GMT)
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