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LOCKHEED MARTIN CORPORATION

(LMT)
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Lockheed Martin - Sikorsky Signs Resale Agreement With CIAC

11/25/2021 | 08:20am EST

BOGOTA - Sikorsky, a Lockheed Martin (NYSE: LMT) company, and Corporacion de la Industria Aeronautica de Colombia S.A. (CIAC) have signed a commercial agreement that allows CIAC to purchase Black Hawk helicopter spare parts from Sikorsky for resale to the Colombian Army, Air Force and National Police. The advance acquisition and storage of the material in Bogota, including the processing of component repairs, will allow CIAC to quickly fulfill orders when required by the services, which together have acquired 97 UH-60L and S-70i Black Hawk aircraft.

'This resale agreement gives CIAC the exclusivity in Colombia to purchase original Black Hawk parts from Sikorsky, and then keep the parts in a local warehouse for demand supply,' said Felipe Benvegnu, Sikorsky's Director of Sustainment and Business Development. 'The effect of this agreement will be to shorten delivery times for critical items, which should ultimately result in improved operational availability of Colombia's Black Hawk fleets. We are delighted to expand our already strong relationship with CIAC to help keep these aircraft at their maximum flight availability.'

The agreement with CIAC marks the first time Sikorsky has collaborated with a commercial aerospace support provider to enable the resale of Black Hawk helicopter parts in Colombia. Owned by Colombia'sMinistry of Defense, CIAC operates as an independent company.

For his part, Major General Ivan Hidalgo, General Manager of CIAC, said: 'I feel a great pride that from CIAC we can contribute to the strengthening of national air power, from the unification of the logistical support of the UH-60 fleets in Colombia. Achieving Consolidate for the first time, a close and close realization with the manufacturer allows us to continue working for the benefit of the Military Forces and National Police.'

CIAC's resale agreement builds on the close relationship already established between CIAC and Sikorsky-Colombia, a subsidiary of Sikorsky. Together, the two companies work closely to manage the Black Hawk Flight Simulator Center at Luis Pinto Air Base in Melgar, Colombia. Operational since 2013, the center is used by instructors to train pilots from the Black Hawk fleets of COLAR, COLAF and the National Police, as well as for the Brazilian Armed Forces.

The local storage of Black Hawk parts is similar to the 'Forward Stocking Locations' approach that Sikorsky has established in Europe, Asia and Brazil. At those locations, Sikorsky stores components near its commercial customers flying with S-92 and S-76 helicopters.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global aerospace and security company that employs approximately 114,000 people worldwide and is primarily engaged in the research, design, development, manufacturing, integration and maintenance of advanced technology systems, products and services.

Contact:

Germany

Julian Worner

T: +49 16 0935 85089

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 67 024 M - -
Net income 2021 6 251 M - -
Net Debt 2021 8 558 M - -
P/E ratio 2021 16,7x
Yield 2021 2,82%
Capitalization 104 B 104 B -
EV / Sales 2021 1,68x
EV / Sales 2022 1,71x
Nbr of Employees 114 000
Free-Float 99,5%
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Last Close Price 376,54 $
Average target price 391,60 $
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James D. Taiclet Chairman, President & Chief Executive Officer
John Wesley Mollard Chief Financial Officer, Treasurer & VP
Rodney A. Makoske SVP, Chief Engineering, Technology & Operations
Frank A. St. John Chief Operating Officer
Jay Peterson Director-Government Finance & Compliance
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