BETHESDA, Md., April 9, 2020 /PRNewswire/ -- Lockheed Martin is
taking further steps to aid important supply chain businesses that
help deliver national security for our nation and its allies, and
will continue to support those on the front lines of the medical
crisis impacting our local communities.
From the beginning of the COVID-19 crisis, Lockheed Martin has
been working closely with the U.S. Department of Defense (DOD) to
identify ways to provide critical financial and other support to
the most vulnerable elements of the U.S. defense industrial
base. For the last three weeks, we have accelerated payments
to our supply chain, and I am pleased to announce another
$50 million this week bringing our
total to $156 million.
In addition, thanks to the DOD's leadership and foresight in
changing progress payment policy, we estimate that we will be able
to flow down over $450 million in
accelerated payments to our supply chain partners who are critical
to supporting our economy and national security.
We are also taking steps to support our nation's health care
workers and first responders on the front lines of this crisis. We
offered our corporate jet fleet as an in-kind donation to the
federal government's COVID-19 relief efforts. We are pleased to
announce, working with the U.S. Department of Health and Human
Services (HHS), we will provide air transport of government medical
teams to the most critical, high-priority locations around the
country.
As previously announced, we pledged $10
million in charitable contributions for COVID-19 relief and
recovery efforts. We have allocated $6
million towards that goal:
- $2 million has been donated to
Project HOPE to help deliver personal protective equipment (PPE) to
the Federal Emergency Management Agency (FEMA) for distribution to
America's doctors, nurses, and first responders.
- $2 million to the American Red
Cross to help deliver its lifesaving mission during the COVID-19
outbreak and Service to the Armed Forces supporting military
personnel, veterans, and families.
- $2 million to the CDC Foundation
All of Us: Combat Coronavirus emergency response fund.
As we continue to face this unprecedented crisis, Lockheed
Martin is driven by our commitment to the mission of our U.S. and
allied customers. We will continue to maintain our operations for
our men and women in uniform and we are resolved to find additional
ways to contribute to the relief and recovery from COVID-19.
Marillyn Hewson
Chairman, President and CEO
Lockheed Martin Corporation
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a
global security and aerospace company that employs approximately
110,000 people worldwide and is principally engaged in the
research, design, development, manufacture, integration and
sustainment of advanced technology systems, products and
services.
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SOURCE Lockheed Martin