LOCKHEED MARTIN AND BLOHM + VOSS SIGN STRATEGIC PARTNERSHIP IN SUPPORT OF NAVY'S LITTORAL COMBAT SHIP
BALTIMORE, MD, January 16th, 2003 -- Lockheed Martin and Blohm + Voss forged an agreement today to work together in providing the U.S. Navy with a Littoral Combat Ship (LCS) solution capable of meeting the stated requirements of speed, range, payload, cost, capability, survivability and supportability. The agreement, in the form of a memorandum of understanding, calls for a continuance of the relationship established between both companies for the Navy's ongoing Ship Concept Studies. The scope of work to be performed consists of integrated modular designs for both onboard and off board systems as well as development of an advanced propulsion system for a Focused Mission Ship (FMS). The FMS is a proposed ship design intended for the Navy as a tool to evaluate a range of technology options, particularly in the areas of design and modularity, for an eventual LCS. Carol Hulgus, Lockheed Martin Naval Electronics & Surveillance Systems (NE&SS) vice president and capture team leader for LCS, said "We conducted a worldwide search for an industry leader that has consistently utilized best practices and delivered on their commitments to customers. Lockheed Martin and Blohm + Voss are committed to the success of the LCS program and look forward to working together on this revolutionary ship that will transform how the U.S. Navy fights in the littorals."
LCS, a transformational new ship class for the Navy, will be expected to engage numerous threats in the littoral environment, the most significant of which include diesel submarines, small boats engaging in swarm warfare, and mines. A key element to the overall ship design will be the development and integration of different modules, easily interchanged with LCS, to address the various threats in the littorals.
Dale Bennett, Lockheed Martin NE&SS-Marine Systems vice president and general manager, stated "Blohm + Voss understood the need for modularity in ship design and integration as early as the 1970s, by developing flexible mission modules that provide for ease of spiral upgrades to systems over time. This approach to modular ship design resulted in the extremely popular MEKO-class ships, found in 11 navies worldwide today."
Dr. Reinhard Mehl, Blohm + Voss executive board member, expressed his satisfaction with the new strategic partnership, and believes his company's experience with the MEKO ships will be of critical importance to LCS. "We have learned many lessons along the way in refining the MEKO design that we expect to be of great significance for our LCS efforts, particularly in the areas of signature reduction, enhanced survivability, advanced propulsion systems, fully integrated warfare systems based on an open system architecture, damage control and integrated monitoring and control systems. We look forward to leveraging this experience with Lockheed Martin as we work together to provide the U.S. Navy with a very capable LCS solution."
In addition to offering its own ship design proposal as part of the Navy's Ship Concept Studies, Lockheed Martin has teamed with several other industry partners to provide a host of various design and integration services. Lockheed Martin is represented on three industry teams currently participating in the Ship Concept Studies.
Lockheed Martin NE&SS provides surface ship and submarine weapon systems, antisubmarine warfare and ocean surveillance systems, missile launching systems, radar and sensor systems, ship systems integration services and other advanced systems and services to customers worldwide. NE&SS is a unit of Lockheed Martin Corporation (NYSE: LMT) headquartered in Bethesda, MD. The corporation's principal business areas are aeronautics, space, systems integration and technology services.
SAFE HARBOR
NOTE: Statements in this press release, including the statements relating to projected future events or financial performance, are considered forward-looking statements under the U.S. securities laws. Sometimes these statements will contain words such as "anticipates," "expects," "plans," "projects," "estimates," "outlook," "forecast," and other similar words. These statements are not guarantees of our future performance and are subject to risks, uncertainties and other important factors that could cause actual performance or achievements to be materially different from those we may project. We expressly disclaim a duty to provide updates to forward-looking statements, and the estimates and assumptions associated with them, after the date of this press release to reflect the occurrence of subsequent events, changed circumstances or changes in our expectations.
In addition to the factors set forth in Lockheed Martin Corporation's 2001 Form 10-K and other more recent filings with the Securities and Exchange Commission (www.sec.gov), the following factors could affect the forward-looking statements: the ability to obtain or the timing of obtaining future government awards; the availability of government funding and customer requirements both domestically and internationally; changes in government or customer priorities due to program reviews or revisions to strategic objectives (including changes in priorities to respond to terrorist acts or to improve homeland security); difficulties in developing and producing operationally advanced technology systems; the competitive environment; and economic business and political conditions domestically and internationally. These are only some of the numerous factors that may affect the forward-looking statements contained in this press release.
Tom Greer, 443-742-5833, thomas.greer@lmco.com
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