At Paris Air Show, Terma and Lockheed Martin signed a Memorandum of Understanding.
Paris, France – A Memorandum of Understanding (MOU) was signed today at the Paris Air Show between Denmark-based Terma and Lockheed Martin [NYSE: LMT], confirming future opportunities for Terma to pursue additional component production beyond their current contracted agreements for the F-35 Lightning II Joint Strike Fighter.
From right: President & CEO of Terma Jens Maaløe with Lockheed Martin Aeronautics Executive Vice President Orlando Carvalho at the signing of the agreement
Terma President and Chief Executive Officer Jens Maaløe and Lockheed Martin Aeronautics Executive Vice President Orlando Carvalho were on hand for the ceremonial signing of the MOU that allows for continuation of existing opportunities for Terma to provide best value composite and bonded assembly work for the F-35 beyond Low Rate Initial Production (LRIP) Lot 11.
“The MOU that we signed today is strong evidence of Terma’s present and future position on the F-35 program, and it shows how collaboration can benefit Terma, Danish Industry, and the F-35 program as a whole. Terma has established a solid and reliable technology base for our future involvement in the program beyond LRIP 11. At present, Terma is preparing for further investment in technology and production facilities,” said Maaløe.
In 2013, Terma entered into a long-term agreement with Lockheed Martin for the manufacture of composite and bonded assembly parts for all variants of the F-35. The Danish company has also signed additional agreements for F-35 work with Northrop Grumman Corporation, BAE Systems, General Dynamics, and Marvin Engineering. Terma has been collaborating with Lockheed Martin since 1976 with the F-16 program, and since 2000 as a partner on the F-35 program.
“Lockheed Martin has appreciated the good fortune of enjoying more than 30 years of successful relationships with Danish industry on the F-16, C-130, and F-35 programs,” said Carvalho. “Signing this MOU today with Terma reinforces Lockheed Martin’s commitment to Danish Industry.”
Terma’s involvement in the F-35, since Denmark entered the program in 2002, comprises eight different production programs within advanced composite structural parts and electronics.
To date, Danish industry has received orders in excess of USD 300 million.
The high-tech Terma Group develops products and systems for defense, non-defense, and security applications, including command and control systems, radar systems, self-protection systems for aircraft, space technology, and aerostructures for the aircraft industry. Terma A/S is headquartered at Aarhus Denmark and maintains Danish facilities in Copenhagen and Grenaa. Internationally, Terma has subsidiaries and operations in The Netherlands, Germany, the U.S., Singapore, United Arab Emirates, United Kingdom, and India.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s net sales for 2014 were USD45.6 billion.
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Michael J. Rein
Lockheed Martin F-35 Program