Lockheed Martin Receives Eighth F-2 Component Work Contract
Fort Worth, Texas, 05-APR-04 -- Lockheed Martin [NYSE: LMT] received a contract from Mitsubishi Heavy Industries (MHI) on March 31 valued at over $130 million to manufacture components for six additional F-2 production aircraft. MHI is the prime contractor for the F-2, Japan's long-range, highly maneuverable support fighter.
The F-2 remains very relevant to Japan's defense, said James Shidler, Lockheed Martin's F-2 program director. We are thankful to MHI and the Japan Defense Agency for another year of production, and we are committed to applying Lockheed Martin's resources in support of maximizing the F-2's flexible capabilities.
This new award brings the total aircraft under contract to 71. Lockheed Martin is producing components for 65 F-2 aircraft from those orders initiated under the seven previous contracts. The company will continue to provide all the aft fuselages, wing leading-edge flaps and stores management systems; 80 percent of all left-hand wing boxes; and other avionics and avionics support equipment. Lockheed Martin components are shipped to MHI's Komaki-South facility in Nagoya, Japan, where they are assembled by MHI with other components to form the F-2.
One reason Japan selected Lockheed Martin's F-16 fighter jet in 1987 as the basis for design of a new support fighter was because the F-16's flexible platform provides the capability for the F-2 to evolve and meet emerging threats. In 2000, the Japan Defense Agency's Technical Research and Development Institute completed extensive flight tests in Japan of four prototype aircraft, designated XF-2. MHI delivered the first production aircraft to the Japan Defense Agency (JDA) in September 2000. By the end of February 2004, 45 F-2s were delivered to the JDA.
Lockheed Martin expects to successfully complete component deliveries this month for its sixth production contract with MHI. Delivery of major components for the contract signed last year will begin in May 2004. This year's contract is effective immediately with deliveries expected to begin in April 2005. Lockheed Martin has delivered more than 250 major airframe, avionics, and avionics support equipment components in this successful partnership with MHI since component deliveries began in late 1998.
Lockheed Martin Aeronautics Co., a business area of Lockheed Martin, is a leader in the design, research and 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, C-5, C-130, C-130J, P-3, S-3 and U-2. The company produces major components for the F-2 fighter, and is a co-developer of the C-27J tactical transport and T-50 advanced jet trainer.