Lockheed Martin pledges support for supply chain
Lockheed Martin is investing millions of dollars to support small and medium-sized enterprises within their supply chain as well as NGOs working to stem the tide on the COVID-19 coronavirus outbreak.
In a 27 March statement, the company’s CEO and President Marillyn Hewson said: ‘We will do our part to use our know-how, resources and leadership as a company to assist our communities and our country during this period of national crisis.’
Lockheed Martin has created a $50 million fund to allow supply chain partners to continue operating, sustain jobs and contribute to economic stability.
Furthermore, it is donating $10 million to health charities involved with providing relief assistance. This will focus on those helping veterans and military families.
Finally, a $6.5 million relief fund is being set up to help Lockheed Martin employees and retirees whose financial security is negatively impacted by COVID-19.
Hewson is due to stand down from the CEO and president role on 15 June. She will be replaced by James Taicet.
More from Defence Notes
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
-
![Irish Naval Service expands as the country looks to defence during EU presidency]()
Irish Naval Service expands as the country looks to defence during EU presidency
The Irish Naval Service has struggled to maintain capability, particularly in the face of lucrative private sector offers luring away personnel.
