SEOUL, South Korea,
April 29, 2016 /PRNewswire/ --
Lockheed Martin (NYSE: LMT) and Daewoo Shipbuilding & Marine
Engineering (DSME) have signed a comprehensive teaming agreement to
partner on the Multi-mission Combat Ship (MCS), which is based on a
DSME hull design and intended for the corvette market.
Both companies bring valuable experience and unique capabilities
to the teaming arrangement. Lockheed Martin has a proven track
record of developing and integrating complex systems into a wide
variety of U.S. and international naval vessels. DSME is one of the
world's largest shipbuilders and has a rich history of producing
highly capable naval vessels for the Republic of Korea and other
international customers.
"DSME's MCS hull design coupled with Lockheed Martin's expertise
in program and systems integration will allow the team to bring
this capable ship to the international marketplace at an affordable
price," said Joe North, vice
president of Littoral Ships and Systems at Lockheed Martin Mission
System and Training. "Together, we bring not only the best
experience, expertise and resources, but also the right dedication
and focus to offer coalition navies a multi-mission corvette-sized
ship designed to meet future threats."
"This Teaming Agreement on MCS and strategic cooperation will
not only provide our customers with high capability vessels on
time, but also further facilitate our two companies' joint efforts
in exploring opportunities on a global scale," said Deog-Soo Kim, vice president and the head of the
Naval & Special Ship Business Management Division at DSME.
"Moreover, the Korean government is pursuing 'New-Economic Growth
Activation by Defense Industry' as one of the state development
agendas and this agreement is a good example of achieving the
objective."
Lockheed Martin and DSME are continuing to explore additional
business opportunities in the international naval market where
integrated, multi-mission corvettes will play a vital role in
coastal protection as well as regional operations.
For additional information, visit our website:
www.lockheedmartin.com.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
125,000 people worldwide and is principally engaged in the
research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
About DSME
As one of the largest shipbuilders in the
world, DSME is the market leader which specializes in building
various commercial vessels, large scale offshore platforms, and
complex naval ships. DSME has maintained a strong position as a
naval solution provider, which has served as the backbone for the
Republic of Korean navy's as well as international navies'
capability with high quality and on-time products.
Logo - http://photos.prnewswire.com/prnh/20141118/159313LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/lockheed-martin-and-daewoo-shipbuilding--marine-engineering-sign-teaming-agreement-to-build-multi-mission-combat-ships-300260204.html
SOURCE Lockheed Martin