Business

May 21, 2012

Lockheed Martin Aeronautics reaches new contracts with two unions

Members of the International Brotherhood of Electrical Workers and the Office and Professional Employees International Union have ratified new labor agreements with Lockheed Martin Aeronautics in Fort Worth Texas.

The new agreements became effective May 21 and extend for four and five years, respectively.

The IBEW members approved their agreement in a vote May 18, and the OPEIU members approved their agreement May 19.

The IBEW represents about 70 employees at the company’s Fort Worth site, while the OPEIU represents about 430. The unions and company have been negotiating for the past month.

“We’re pleased the union members ratified these new agreements,” said Bridget Lauderdale, vice president of Aeronautics Operations at Lockheed Martin. “Our employees perform a critical task for our customers and the nation through their work supporting the F-35, F-16 and other business programs, and these new agreements will allow us to sustain those activities while also positioning the company for efficiency and affordability.”

The union members will each receive a $3,000 ratification bonus and general wage increases over the term of the agreements. The agreements also include Cost of Living Adjustment provisions and will increase future pension benefits by 14 percent, to $90 per month per year of credited service for eligible current employees. These new agreements offer a choice of two health insurance options: the LM HealthWorks plan which is standard throughout Lockheed Martin, or an Aetna HMO.

These ratified contracts also include a defined contribution pension plan for new hire employees in lieu of a defined benefit pension plan. These terms are similar to what Lockheed Martin offered to the International Association of Machinists and Aerospace Workers in Fort Worth, Naval Air Station Patuxent River, Md., and Edwards Air Force Base, Calif., which the IAM rejected April 22, resulting in the ongoing strike.




All of this week's top headlines to your email every Friday.


 
 

 
LM-AEHF

Ingenuity drives Lockheed’s AEHF program to production milestone early

Lockheed Martin has successfully integrated the propulsion core and payload module for the fourth Advanced Extremely High Frequency (AEHF) satellite nearly five months ahead of schedule. Reaching this critical milestone early a...
 
 

First all-electric propulsion satellites send first on-orbit signals

Two Boeing 702SP (small platform) satellites, the first all-electric propulsion satellites to launch, have sent initial signals from space, marking the first step toward ABS, based in Bermuda, and Eutelsat, based in Paris, being able to provide enhanced communication services to their customers. Whatís more, the satellites were launched as a conjoined stack on a...
 
 

GA-ASI, Sener team to offer Predator B to Spain

General Atomics Aeronautical Systems, Inc. and SENER, a leading Spanish engineering company, announced March 2 that they have signed a teaming agreement that promotes the use of the multi-mission Predator B® RPA to support Spain’s airborne surveillance and reconnaissance requirements.  GAASI is a leading manufacturer of Remotely Piloted Aircraft systems, radars, and electro-optic and relate...
 

 
raytheon-satellite

Raytheon’s ‘Blue Marble’ imaging sensor delivered on schedule

Raytheon has delivered a second Visible Infrared Imaging Radiometer Suite instrument to support the National Oceanic and Atmospheric Administration’s Joint Polar Satellite System mission. The second VIIRS unit will fly ab...
 
 

Airbus says net profit soared in 2014

Airbus says its net profit soared 59 percent last year as a record-high number of jet deliveries helped offset a 551 million euros end-of-year charge against its delayed A400M military transporter program. The European jet maker said Feb. 27 it made a 2.34-billion-euros ($2.62 billion) net profit in 2014, up from 1.47 billion euros in...
 
 

Lockheed Martin Australia to deliver modern, affordable C-130J training solutions to RAAF

The Royal Australian Air Force has awarded Lockheed Martin Australia a contract to supply a modern C-130J-30 Virtual Maintenance Trainer and a Multi-Function Training Aid to support maintenance and aircrew training at RAAF Base Richmond. Through this major upgrade, the RAAF will have a standardized curriculum tailored for its operations and based on decades of...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>