July 29, 2009
MARIETTA, Ga., July 29 - Lockheed Martin (NYSE: LMT) has been awarded an $821 million maintenance, repair, and overhaul contract for the Customs and Border Protection (CBP) P-3 Orion fleet. The contract is for a base period of one year, with nine additional one-year options. CBP currently operates 16 P-3s, updated with a suite of modern surveillance sensors oriented towards conducting homeland security missions.
"We are extremely proud to support Customs and Border Protection's homeland security missions, and honored by the trust and confidence that CBP has placed with Lockheed Martin to maintain this critical capability," said Ray Burick, Lockheed Martin vice president of P-3 programs. "The Customs P-3s have a mission that is unique within the P-3 community. It is our privilege to lend our efforts to support that mission."
Work on the contract will be performed at multiple facilities. The operational portion - aircraft launch and recovery, daily maintenance, short-term phase maintenance, and minor modifications - will be performed by Lockheed Martin personnel at CBP operational sites. Depot maintenance will be performed primarily at Lockheed Martin's Greenville, S.C., facility.
"The Customs and Border Protection program is a great example of the benefits of effective government/industry partnerships," said Rob Weiss, Lockheed Martin executive vice president for Global Sustainment. "Our priority is to provide all of our customers with integrated life-cycle solutions that ensure operational effectiveness and readiness at best value."
In April 2008, CBP contracted with Lockheed Martin under the P-3 Aircraft Service Life Extension Program (ASLEP), ordering up to 14 all-new production wing life extension kits. To date, CBP has placed firm orders for six life extension kits. ASLEP is the only P-3 life extension program validated by the OEM to extend P-3 service life 20-25 years, equating to 15,000 additional flight hours. A total of 47 ASLEP kits have been ordered from five P-3 operators which include Norway, CBP, the U.S. Navy, Canada and Taiwan.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 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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Contract $500m+, Contract Win, Lockheed Martin (NYSE:LMT), P-3 Orion
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