General Electric, Lockheed Martin Mark Inauguration of International Technical Center of Excellence in Chile
FORT WORTH, TX, 20-MAY-03 -- General Electric (NYSE: GE) and Lockheed Martin [NYSE: LMT] yesterday announced the official opening of GE's new International Technical Center of Excellence (GE ITCEC), marking a major milestone in the offset fulfillment program with Chile for the acquisition of 10 new Lockheed Martin F-16 Block 50 aircraft. The center, operated by Adexus, an information and communications technologies integrator, will be GE's hub for the development of highly specialized, world-class technical publications for the international aerospace industry.
This is an important day for GE, Lockheed Martin and Adexus. It is also a significant milestone for the development of the aeronautical industry in Chile, said Hugo Silva, GE regional executive for Chile, Peru and Bolivia. This center is the result of extensive research, evaluation and teamwork to make this important project a reality.
This high-technology center is the first outcome of the offset program initiated by the Chilean government in 2000. The objective of this offset program, led by CORFO (Chilean Development Agency) is to re-enforce industrial and technology development policies by attracting foreign investment and the creation of export-oriented economic activities that compensate defense sector acquisitions.
The Chilean government accepted the GE and Lockheed Martin project, recognizing that it would bring high technology and the growth of intellectual capital to the country of Chile. The GE ITCEC represents up to 25 percent of the total offset obligation.
This center proves our commitment to the offset program for the F-16 aircraft acquisition, said Larry McQuien, Lockheed Martin?s vice president for Business Ventures. Lockheed Martin has an exceptional record of fulfilling our offset obligations. We have completed more than $40 billion in offset programs around the world, and we will continue working with the Chilean Development Agency, CORFO, to execute the offset obligation.
The state-of-the-art aerospace technical publication facility will have many benefits for Chile. Those employed at the center will create a product with a significant export market and a worldwide customer base requiring technical manuals for maintenance work, and ultimately will further development of Chilean intellectual capital.
Lockheed Martin Aeronautics Co., a business area of Lockheed Martin, is a leader in the design, development, systems integration, production and support of advanced military aircraft and related technologies. Its customers include the military services of the United States and allied countries throughout the world. Products include the F-16, F/A-22, F-35 JSF, F-117, T-50, C-5, C-130, C-130J, P-3, S-3 and U-2.