Lockheed Martin Canada Inc. To Acquire Engine Maintenance, Repair And Overhaul Assets

Lockheed Martin Canada Inc. To Acquire Engine Maintenance, Repair And Overhaul 
BETHESDA, Md., Jan. 7, 2013 /CNW/ - Lockheed Martin Canada Inc., a wholly 
owned subsidiary of Lockheed Martin Corporation (NYSE: LMT), announced that it 
has entered into an agreement to purchase certain assets of the engine 
maintenance, repair and overhaul (MRO) business of Aveos Fleet Performance, 
Inc., located in Montreal, Canada. 
Terms of the agreement were not disclosed and are not material to Lockheed 
Martin. The closing of the transaction is subject to customary conditions. 
"This acquisition is consistent with our strategy of acquiring capabilities 
that enhance our ability to expand into attractive adjacent market 
opportunities," said Lockheed Martin CEO and President Marillyn Hewson. "We 
look forward to expanding our corporation's presence in Canada, and plan to 
begin engine MRO operations for commercial and military customers later this 
The engine MRO assets provide capabilities to perform a complete range of 
services on the CF34 and CFM56 engine families, which include engines that 
power the regional Embraer and Canadian RJ jets and the Airbus 320 family, 
respectively. The facility will be named Kelly Aviation Center Montreal, a 
Lockheed Martin Canada company, and become part of Lockheed Martin 
Aeronautics' engine MRO line of business, which includes Kelly Aviation 
Center, a Lockheed Martin affiliate based in San Antonio, Texas. 
"This expansion into the commercial engine maintenance, repair and overhaul 
industry is a natural progression of our strategy to grow our business," added 
Lockheed Martin Aeronautics Executive Vice President Larry Lawson. "By 
leveraging the commercial strengths of our existing Aeronautics team at Kelly 
Aviation Center in San Antonio, we can build on natural synergies that exist 
to provide innovative MRO offerings that will benefit our customers." 
"We will immediately realize the benefit of this acquisition because we plan 
to hire a number of the highly skilled former Aveos employees to support our 
MRO operations in Montreal," continued Lawson. 
Lockheed Martin Canada has more than 700 employees at facilities in Ottawa, 
Montreal, Dartmouth and Calgary, as well as Department of National Defence 
sites across the country, and is a leader in the delivery and integration of 
naval combat systems, radar platforms, avionics, electronic warfare, data 
fusion and performance-based logistics. 
Headquartered in Bethesda, Md., Lockheed Martin is a global security and 
aerospace company that employs about 120,000 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 2011 were $46.5 billion. 
For additional information, visit our website: http://www.lockheedmartin.com 
Lockheed Martin Forward-Looking Statements: Statements in this release about 
future actions and the consequences of these actions are "forward-looking 
statements" and are based on Lockheed Martin's current expectations and 
assumptions. Forward-looking statements in this release include, but are not 
limited to, the potential for growth and expansion as result of the 
transaction. Forward-looking statements are subject to risks, uncertainties 
and other factors that could cause actual results to differ materially from 
future results expressed or implied by the forward-looking statements. 
Potential risks and uncertainties include, but are not limited to: our ability 
to successfully integrate the business and generate synergies, the ability to 
attract and retain a skilled workforce, as well as other risks and 
uncertainties (such as the resolution or continuation of sequestration and the 
current budget crisis in the U.S. that may lead to changes in funding levels 
or changes in customer needs and priorities) described from time to time in 
Lockheed Martin's Form 10-K (including under the caption "Risk Factors"), Form 
10-Q and other filings with the Securities and Exchange Commission. All 
information in this release is as of Jan. 7, 2013. Lockheed Martin disclaims 
any duty to update forward-looking statements to reflect subsequent events, 
actual results or changes in expectations. For further information regarding 
risks and uncertainties associated with Lockheed Martin's business, please 
refer to the Corporation's SEC filings, which may be obtained at the 
Corporation's website: http://www.lockheedmartin.com. 
Mike Barton, +1-613-862-6686, michael.barton@lmco.com; Jennifer Allen, 
+1-301-897-6308, jennifer.l.allen@lmco.com, both of Lockheed Martin 
SOURCE: Lockheed Martin Corporation 
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CO: Lockheed Martin Corporation
ST: Maryland
-0- Jan/07/2013 21:51 GMT
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