Business

June 21, 2012

Lockheed Martin commemorates centennial, addresses future, sequestration

Lockheed Martin Chairman and CEO Bob Stevens.

Lockheed Martin’s Chairman and Chief Executive Officer Bob Stevens, President and Chief Operating Officer Chris Kubasik and other senior leaders commemorated the corporation’s 100-year history during its annual media briefing June 19, while simultaneously warning of the impacts that sequestration will have on the industry.

The meeting, held at the company’s Global Vision Center in Arlington, Va., was attended by seventy industry and business reporters.

“Experience through our first 100 years has informed us in many ways and shaped who we are, our ideals, and our culture,” said Stevens. “The ability to drive the cutting edge of advanced technology has always been a central focus for us. But we are reminded daily of the great privilege that we have of supporting those who serve our nation.”

Looking at the next 100 years, Stevens said, “We have a highly integrated strategy, we’ve made smart investments, we’ve ensured that we have financial capacity and flexibility, and we have extraordinary talent and dedicated leadership at all levels of our company. We are very much ready for future challenges.”

Lockheed Martin President, COO and CEO-elect Chris Kubasik.

Stevens described sequestration as “the single greatest challenge faced by our company and industry, for which we have no good response. With only 196 days remaining we have no insight as to how sequestration, this law, will be implemented. From an industry perspective, the near-term horizon is completely obscured by a fog of uncertainty.”

Kubasik, who will become CEO on Jan.1, shared his vision of where the company is going and its priorities for research and development investments. “I think we have done an excellent job over the last several years trying to optimize our R&D spend,” he said. For example, “we look at nanotechnology with a focus on material strength and weight. That is something that each and every business area can benefit from. If we are not making progress, if it doesn’t align with the customers’ area of focus, we stop the project and move on to something else.”




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


 
 

 

Northrop Grumman signs long-term agreement with Raytheon

Northrop Grumman has entered a long-term agreement with Raytheon to supply its LN-200 Inertial Measurement Unit for Raytheon optical targeting systems. The long-term agreement with Raytheon’s Space and Airborne Systems business extends through 2018. The LN-200 provides camera stabilization on optical targeting systems that conduct long-range surveillance and target acquisition for various...
 
 
AAR-Textron

AAR awarded new contract from Bell Helicopter Textron to support T64 engines

AAR announced April 22 that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Val...
 
 

Pratt & Whitney’s engine wins Gold Edison Award™

Pratt & Whitney’s PurePower® Geared Turbofan™ engine has been awarded Gold in the transportation- aviation category of the 2015 Edison Awards. Pratt & Whitney is a division of United Technologies Corp. “Our dedication to innovation and identifying ways to continuously improve is in our blood at Pratt & Whitney,” said Greg Gernhardt, president, Pratt &...
 

 

Boeing names Space Launch System VP

Boeing has named John Shannon to be vice president and program manager for the Space Launch System, which will provide NASA with heavy-lift capability to send people and cargo into deep space. Boeing is designing, developing, testing and manufacturing the core stages and avionics for SLS. Shannon succeeds Virginia “Ginger” Barnes, who is retiring. He...
 
 

Germany’s Jenoptik, Raytheon partner to produce new generators for global Patriot

Raytheon is partnering with the Jenoptik subsidiary Lechmotoren, a part of the Jenoptik Defense & Civil Systems division, to produce advanced power generators for the Patriot Air and Missile Defense system. Under terms of this new contract, Jenoptik will build power plants, power generators, test equipment and spares for one of Patriot’s global partners. Raytheon...
 
 

Boeing tops first quarter profit forecasts, airplane deliveries rise

Boeing delivered more commercial airliners in the first quarter, offsetting sluggish results in the defense side of its business and pushing its first-quarter earnings up 38 percent. The profit topped Wall Street expectations, but revenue was below forecasts, and production costs of the Boeing 787 jet continued to pile up. The shares fell about 4...
 




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>