LOCKHEED MARTIN AERONAUTICS HONORED FOR SUPPORT OF ASIAN AMERICAN-OWNED BUSINESSES
FORT WORTH, Texas, 24-AUG-05 -- Lockheed Martin [NYSE: LMT] has been recognized as the Corporation of the Year by the Pan Asian American Chamber of Commerce Southwest, an organization of Asian American-owned businesses based in North Texas.
The company was selected based on its training, mentoring and overall support of Asian American-owned businesses, including many that qualify under federal designations as Small Disadvantaged Businesses.
The honor was announced during the 3rd Annual Asian American Business EXPO held in the Dallas/Fort Worth metroplex on August 17. The EXPO serves as a forum for business-to-business matching opportunities between Asian American suppliers, government agencies and major corporations.
Lockheed Martin Aeronautics Co. spent approximately $1 billion with all types of small businesses in 2004. This included $61 million with small businesses based in the Dallas/Fort Worth area and $5 million with Asian American-owned businesses. Lockheed Martin has an active small business and supplier diversity outreach program that assists eligible businesses in their efforts to become suppliers under government contracts.
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.