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MarketScreener Homepage  >  Equities  >  Nyse  >  Lockheed Martin Corporation    LMT

LOCKHEED MARTIN CORPORATION

(LMT)
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Lockheed Martin : to Build New Training Center for Binational French, German C-130J Squadron

11/19/2020 | 10:41am EST

ORLANDO, Fla., Nov. 19, 2020 - French and German C-130J® Super Hercules aircrews and maintainers will train in a facility located in France, built and equipped by Lockheed Martin (NYSE: LMT) for the countries' binational C-130J Super Hercules Squadron. Lockheed Martin will provide training devices, the learning management system, courseware and options for five years of training services under the terms of a new direct commercial sale (DCS) contract, allowing for in-country learning.

Lockheed Martin will break ground on the training center in 2021 and aircrew and maintainers will begin training in the center in 2024.

The training center will be located in Évreux-Fauville Air Base in the Normandy region of France and will provide training for both C-130J-30 airlifter and KC-130J tanker aircraft under a first-of-its-kind partnership in the entire scope of 65 years of Hercules history where the countries share the aircraft, which are used for aerial refueling, air drop and cargo missions.

'The French/German C-130J Binational Training Center will allow both countries to train pilots and maintainers on the full capability of these proven aircraft,' said Tom Gordon, Lockheed Martin, vice president of Training and Simulation Solutions. 'Lockheed Martin is honored to support this historic partnership and proud to work directly with our customers in establishing a first-of-its kind resource that will benefit Super Hercules crew members for decades to come.'

The French and German binational squadron consists of a combined 10 Super Hercules aircraft. In 2018, Germany announced the acquisition of six Super Hercules aircraft (three C-130J-30s and three KC-130J fleets) to be operated in partnership with France. France has received a total of four Super Hercules aircraft through a Foreign Military Sale with the U.S. government. France's Super Hercules are operated in conjunction with its existing C-130H fleet.

Lockheed Martin is the leading global provider of C-130J training and has experience creating
'turn-key' training facilities for the aircraft. Lockheed Martin's own Hercules Training Center (HTC) is located in Marietta, Georgia, adjacent to the Super Hercules production line. The HTC is a combined academic and simulator facility purpose-built for training efficiency on the C-130J fleet. The HTC trains C-130J crews as needed and will be used to train France and Germany's initial instructor cadre of pilots and maintainers during the construction of the new facility.

The C-130J Super Hercules is the current production model of the legendary C-130 Hercules mid-size tactical airlifter, offering superior performance and enhanced capabilities with the range and versatility for every theater of operations and evolving requirements. To date, the Super Hercules fleet counts 24 operators in 21 nations around the world and has surpassed 2 million flight hours.

As the preeminent tactical aerial refueling tanker, the KC-130J is a battle-tested solution that takes full advantage of the tremendous technological and performance improvements inherent in the C-130J Super Hercules aircraft. A true force multiplier, the KC-130J refuels both fixed wing and rotary wing aircraft as well as conducts rapid ground refueling.

For additional information, visit www.lockheedmartin.com/c130.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 110,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

Please follow @LMNews on Twitter for the latest announcements and news across the corporation.

Disclaimer

Lockheed Martin Corporation published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 15:40:00 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 65 292 M - -
Net income 2020 6 839 M - -
Net Debt 2020 8 779 M - -
P/E ratio 2020 13,9x
Yield 2020 2,90%
Capitalization 95 093 M 95 093 M -
EV / Sales 2020 1,59x
EV / Sales 2021 1,50x
Nbr of Employees 110 000
Free-Float 99,9%
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Average target price 422,02 $
Last Close Price 339,88 $
Spread / Highest target 47,1%
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NameTitle
James D. Taiclet President, Chief Executive Officer & Director
Marillyn A. Hewson Executive Chairman
Frank A. St. John Chief Operating Officer
Kenneth R. Possenriede Chief Financial Officer & Executive Vice President
Rodney A. Makoske SVP-Corporate Engineering, Technology & Operations
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