U.S. Postal Service Awards $168 Million Contract To Lockheed Martin Postal Systems
OWEGO, NY, July 9th, 1998 -- Lockheed Martin Postal Systems in Owego, N.Y., a business unit of Lockheed Martin Corporation (NYSE: LMT), has been awarded a U.S. Postal Service (USPS) contract to improve the handwritten address recognition capabilities on the Remote Computer Reader (RCR) for automated processing of handwritten letter mail. The Handwritten Improvement Program (HIP) contract, valued at $168 million, will significantly enhance RCR recognition capabilities to increase the read rate for the automated processing of handwritten letter mail. Through a series of software upgrade releases the HIP address recognition software algorithms will improve the RCR capability from the current estimated 25 percent read rate to 50 percent over the next year. Implementation of the HIP contract will significantly reduce USPS operational cost and processing time for handwritten letter mail and will further increase the benefits of automation to household users of the mail.
Lockheed Martin Postal Systems was awarded the contract on June 1, 1998 and will initiate deployment of the associated RCR processing equipment modifications to 250 USPS Processing & Distribution Centers throughout the country. This contract also includes incorporation of Advanced Machine Print Recognition Software upgrades, improving the read rate for machine printed mail in the RCR system.
The U.S. Postal Service, the most highly automated postal system in the world with more than 12,000 pieces of mail processing equipment and nearly 40,000 post offices, has been able to use technical initiatives such as the HIP to constantly improve service while maintaining the lowest postage rates in the industrialized world.
Lockheed Martin Postal Systems is a leader in the design, production and systems integration of a broad product portfolio of recognition, sortation, material handling and information management systems equipment and technology for postal and commercial customers. It is part of the Electronics Platform Integration Group, which provides advanced-technology products, services and systems integration solutions and employs approximately 7,500 people. The group is an operating unit of the Lockheed Martin Electronics Sector, a leader in the design, development and manufacture of electronics systems for the global aerospace, defense, civil and commercial marketplace.