Thursday, September 10, 2009

Lockheed Martin Receives Three Secretary of Defense Awards for Performance-Based Logistics

Lockheed Martin Receives Three Secretary of Defense Awards for Performance-Based Logistics
September 10, 2009

BETHESDA, Md., Sept. 10 -- The Department of Defense recognized Lockheed Martin (NYSE: LMT) for excellence in operational readiness with three Secretary of Defense Performance-Based Logistics Awards.

The fifth annual Secretary of Defense Performance-Based Logistics Awards acknowledge government and industry programs that demonstrate outstanding achievement in providing warfighters with exceptional weapons systems readiness as measured by material availability, reliability and reduced ownership cost. Lockheed Martin's Life Cycle Contract Support (LCCS) programs for the High Mobility Artillery Rocket System (HIMARS), Consolidated Automated Support System (CASS) and AN/UYQ-70(V) Advanced Display System each received awards. These three programs are among the 23 performance-based logistics partnerships currently executed by Lockheed Martin and its government partners.

"Performance-based logistics programs provide greater levels of readiness for our customers, translating directly into cost savings for the government," said Christopher E. Kubasik, executive vice president of Lockheed Martin's Electronics Systems business area, which is responsible for the recognized programs. "These awards clearly demonstrate Lockheed Martin's ongoing commitment to providing our customers with affordable, highly reliable systems and solutions that serve them in their defining moments."

The Department of Defense recognized the U.S. Army's HIMARS and U.S. Navy's CASS LCCS programs with System Level awards. HIMARS maintains an average system status readiness of more than 95 percent and a 99.9 percent material availability, both of which will provide an estimated $7.65 million cost avoidance during 2009. The HIMARS program also received this award in 2006.

Throughout the course of the program, CASS has documented $2.9 million in savings and cost avoidances for the government, as well as maintaining an average supply material availability of 99 percent for repairable items and 98 percent for consumable items.

The LCCS program for the Navy's AN/UYQ-70(V) Advanced Display System received a Component Level award. Through the use of commercial-off-the-shelf equipment and a successful technology refresh initiative, the program has generated cost savings of more than $1.5 billion for the Navy over 15 years. The program has an average on time fill rate of 96.5 percent.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.

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