Thu, Feb 19, 2009
Associated With Country's Purchase Of 22 Aircraft
The Italian Ministry of Defense has confirmed that Lockheed
Martin has met the industrial benefit requirement associated with
Italy's acquisition of 22 C-130J aircraft five years ahead of
schedule. As a result of Lockheed Martin's completion of this
commitment, more than 70 partnerships within Italy's industrial
community were implemented. These projects are projected to provide
in excess of $2 billion in long-term economic impact to the Italian
economy.
"The work resulting from this industrial return requirement
represents yet another positive milestone in Lockheed Martin's
longstanding relationship with Italy and the Aeronautica Militare.
Lockheed Martin is proud of the partnerships it has created with
the Italian industrial community and looks forward to opportunities
to further develop and enhance these relationships," said Ross
Reynolds, Lockheed Martin vice president for C-130 programs.
A majority of the projects associated with the Lockheed
Martin-Italy industrial return requirement have involved a wide
range of Italian companies, including small and medium-sized
enterprises. Initiatives included technology transfers,
establishment of licenses or direct investment by Lockheed Martin
within Italian industry.
"Over the past 40 years, Lockheed Martin has completed more than
$40 billion in industrial benefits in more than 37 nations, and
we're extremely proud that we have achieved this mutually
beneficial accomplishment with Italy," said Larry McQuien, Lockheed
Martin Aeronautics' vice president for Business Ventures.
Lockheed Martin's C-130 programs has a 35-year history with
Italy and the Aeronautica Militare. In 1997, the Aeronautica
Militare became one of the first customers to purchase and fly the
C-130J and its crews have flown over 75,000 flight hours with their
fleet -- contributing significantly to the worldwide total of more
than a half-million C-130J flight hours.
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