Lockheed Martin Creates New UK Company
LONDON, ENGLAND, July 1st, 1999 -- Lockheed Martin today announced the creation of Lockheed Martin UK Limited, a new company based in London combining all its United Kingdom defense and commercial business interests under a single UK-registered company. Lockheed Martin's annual UK business is worth more than 600 million pounds sterling. The new company employs nearly 800 people, approximately 70 percent of whom are British citizens. "Lockheed Martin has enjoyed a successful business presence over a number of years and in forming Lockheed Martin UK, the company is demonstrating its enduring commitment to the United Kingdom," said Mr. Ian Stopps, newly appointed chief executive of Lockheed Martin UK Limited. Mr. Stopps had served since 1990 as president of Lockheed Martin Corporation's Western European regional office.
"We will continue to provide advanced-technology solutions for UK defense and civil program requirements whilst increasing responsiveness to our customers. This also gives us the opportunity to develop UK and export market potential with our partners, which will in time result in further advanced technology jobs within Britain," Mr. Stopps said.
He went on to say that "the creation of the new British company is consistent with Lockheed Martin's global, long-term commitment to supporting its international partnerships. Lockheed Martin has more than 200 significant international partnerships around the world, of which more than 70 are in the UK."
"Our largest UK operation, consisting of approximately 500 people in Portsmouth, is an acknowledged leader in systems integration. Teamed with nine other British companies, Lockheed Martin is prime contractor and systems integrator for the successful Royal Navy Merlin helicopter program," Mr. Stopps said.
In addition to Merlin, Lockheed Martin defense activities in Britain include the Tomahawk integration program for the Royal Navy, development with the United States of both the Joint Strike Fighter and the Tracer/Future Scout and Cavalry System. Other UK programs include the C-130J Hercules transporter, attack helicopter systems, and a variety of products for defense communications, electronic warfare and simulation.
Lockheed Martin's commercial and civil government activities in the UK, include a recently awarded £130 million contract to supply advanced postal sorting technologies to the Royal Mail, satellite communications systems, air traffic management control facilities and a contract to process more than 30 million forms for the next UK Census in 2001.
"We expect to grow our UK capabilities in prime contracting, systems integration and other areas of high technology in our core aerospace and defense markets while continuing to expand sensibly into closely related commercial and civil government markets that offer significant growth potential for the future," Mr. Stopps said.
To ensure efficient and effective customer service, individual program contractual responsibilities will remain at the appropriate operating unit or joint venture within Lockheed Martin UK, Ltd.
The Board of Directors for Lockheed Martin UK, Ltd. has six members, of which four are British. The Chairman is Mr. Peter Teets, president and chief operating officer of Lockheed Martin Corporation. Other members are Mr. Ian Stopps; Mr. Thomas A. Corcoran, president and chief operating officer of Lockheed Martin's Space and Strategic Missiles Sector; Mr. Kim Cohen, vice president UK, responsible for marketing, business development and government relations; the Rt. Hon. Lord Patten and Sir Anthony Cleaver.
Lord Patten is Advisor to CCF Charterhouse and a non-executive director of other public companies. He was a Member of Parliament for 18 years, holding ministerial and cabinet posts for 13 of his years of service.
Sir Anthony Cleaver is Chairman of AEA Technology, the Medical Research Council and the government's Industrial Development Advisory Board.
Ian Stopps Tel: 0171 412 0555
Kim Cohen Fax: 0171 412 0547
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