Lockheed Martin pledges support for supply chain
Lockheed Martin is investing millions of dollars to support small and medium-sized enterprises within their supply chain as well as NGOs working to stem the tide on the COVID-19 coronavirus outbreak.
In a 27 March statement, the company’s CEO and President Marillyn Hewson said: ‘We will do our part to use our know-how, resources and leadership as a company to assist our communities and our country during this period of national crisis.’
Lockheed Martin has created a $50 million fund to allow supply chain partners to continue operating, sustain jobs and contribute to economic stability.
Furthermore, it is donating $10 million to health charities involved with providing relief assistance. This will focus on those helping veterans and military families.
Finally, a $6.5 million relief fund is being set up to help Lockheed Martin employees and retirees whose financial security is negatively impacted by COVID-19.
Hewson is due to stand down from the CEO and president role on 15 June. She will be replaced by James Taicet.
You may also like
More from Defence Notes
-
![Top-level commitments but no meat in UK Defence Industrial Strategy’s Statement of Intent]()
Top-level commitments but no meat in UK Defence Industrial Strategy’s Statement of Intent
The initial document focused more on creating the right partnerships and inspiring investment in defence than on any details of how future UK Armed Forces would be armed.
-
![UK begins process on new industrial strategy]()
UK begins process on new industrial strategy
The first stage of developing a new UK Defence Industrial Strategy has highlighted failings in current structures with solutions expected to be proposed in next year’s full strategy.
-
![Romanians put pro-Russian candidate into presidential runoff even as the government spends west]()
Romanians put pro-Russian candidate into presidential runoff even as the government spends west
Romania joined NATO more than two decades ago and the country is vital to the alliance’s geographic reach and its ability to supply Ukraine with weapons.
-
![What the future holds for Ukraine and NATO under a Trump administration]()
What the future holds for Ukraine and NATO under a Trump administration
Although Trump’s geopolitics policy for Europe remains unclear, defence analysts from the US and Europe predict how his incoming administration would attempt to handle critical issues on the continent.
-
![RUSI deputy: UK needs longer procurement plans and improved awareness of US sift to Indo-Pacific]()
RUSI deputy: UK needs longer procurement plans and improved awareness of US sift to Indo-Pacific
The UK budget announced in Parliament on 30 October was the first by a Labour government in 14 years which has also launched a review into defence procurement programmes.
-
![Australia outlines longer punch and brings local industry onboard]()
Australia outlines longer punch and brings local industry onboard
The Australian government has placed a focus on Guided Weapons and Explosive Ordnance (GWEO) which has included the purchase of additional long-range rocket systems and investments in local production of missiles.
