Mercury Systems Inc. (NASDAQ: MRCY, www.mrcy.com), a leader in
trusted, secure mission-critical technologies for aerospace and
defense, and Lockheed Martin (NYSE: LMT) announced they signed an
agreement to collaborate on the development and manufacture of new
sensor processing technologies at Mercury’s Geneva, Switzerland
facility for a wide variety of applications such as radar signal
processing, multi-sensor data fusion, artificial intelligence and
situational awareness. With a potential lifetime value of $40
million, the contract supports Lockheed Martin’s offset agreement
with the Swiss government as part of Switzerland’s planned
procurement of 36 F-35A Lightning II aircraft related to the Air
2030 program.
Why It Matters:This cooperation between
Lockheed Martin and Mercury will help provide Switzerland and other
nations with some of the most advanced airborne defense systems in
the world. The local industry in western Switzerland will also
benefit from new opportunities and additional market access in the
long term.
“We are very excited to strengthen our collaboration with
Lockheed Martin,” said Paul Tanner, Mercury’s vice president of
international growth operations. “We believe this project will be
important to Switzerland and its economy, as it benefits Swiss
national security through military aerospace and defense use.
Further, it will continue to support our international growth as
well as strengthen our product capability. It’s a great example of
connecting cutting-edge commercial technology to defense, to
address the A&D industry’s rapidly changing mission-critical
needs.”
As part of this agreement, the companies will seek to bring the
next generation of embedded processing technology to bear on
safety-certifiable systems through the design, development, and
manufacturing of complex products, purpose-built for the aerospace
and defense industry to meet sensor processing requirements for a
variety of fixed-wing and rotary-wing airborne platforms. This
investment will also provide the highest levels of performance and
functionality while still maintaining the ability to reach the most
critical levels of DO-254 and DO-178C safety certification.
“We look forward to continue strengthening our commitment to
Swiss industry while extending our longstanding relationship with
Mercury Systems,” said Patrick Nyfeler, managing director, Lockheed
Martin Switzerland. “Together with Mercury, we intend to work
closely with the Swiss government to select the best possible
projects over the lifetime of this agreement, enhance Switzerland
competitively in the global economy, creating jobs and enhancing
local labor market skills well beyond the 10-year life of the
contract.”
Mercury envisions, creates, and delivers innovative technology
solutions purpose-built to meet its customers' most pressing
high-tech needs. For more information, visit mrcy.com or contact
Mercury at (866) 627-6951 or info@mrcy.com.
About Lockheed MartinHeadquartered in Bethesda,
Maryland, Lockheed Martin Corporation is a global security and
aerospace company that employs approximately 114,000 people
worldwide and is principally engaged in the research, design,
development, manufacture, integration and sustainment of advanced
technology systems, products and services.
Mercury Systems – Innovation That Matters®
Mercury Systems is a global commercial technology company serving
the aerospace and defense industry. Headquartered in Andover,
Mass., the company delivers trusted, secure open architecture
processing solutions powering a broad range of mission-critical
applications in the most challenging and demanding environments.
Inspired by its purpose of delivering Innovation that Matters, By
and For People Who Matter, Mercury helps make the world a safer,
more secure place for all. To learn more, visit mrcy.com, or follow
us on Twitter.
Forward-Looking Safe Harbor StatementThis press
release contains certain forward-looking statements, as that term
is defined in the Private Securities Litigation Reform Act of 1995,
including those relating to the products and services described
herein and to fiscal 2022 business performance and beyond and the
Company’s plans for growth, cost savings and improvement in
profitability and cash flow. You can identify these statements by
the use of the words “may,” “will,” “could,” “should,” “would,”
“plans,” “expects,” “anticipates,” “continue,” “estimate,”
“project,” “intend,” “likely,” “forecast,” “probable,” “potential,”
and similar expressions. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those projected or anticipated. Such risks and
uncertainties include, but are not limited to, continued funding of
defense programs, the timing and amounts of such funding, general
economic and business conditions, including unforeseen weakness in
the Company’s markets, effects of epidemics and pandemics such as
COVID, effects of any U.S. Federal government shutdown or extended
continuing resolution, effects of continued geopolitical unrest and
regional conflicts, competition, inflation, changes in technology
and methods of marketing, delays in completing engineering and
manufacturing programs, changes in customer order patterns, changes
in product mix, continued success in technological advances and
delivering technological innovations, changes in, or in the U.S.
Government’s interpretation of, federal export control or
procurement rules and regulations, changes in, or in the
interpretation or enforcement of environmental rules and
regulations, market acceptance of the Company's products, shortages
in or delays in receiving components, production delays or
unanticipated expenses due to performance quality issues with
outsourced components, inability to fully realize the expected
benefits from acquisitions, restructurings and value creation
initiatives such as 1MPACT, or delays in realizing such benefits,
challenges in integrating acquired businesses and achieving
anticipated synergies, effects of shareholder activism, increases
in interest rates, changes to industrial security and
cyber-security regulations and requirements, changes in tax rates
or tax regulations, changes to interest rate swaps or other cash
flow hedging arrangements, changes to generally accepted accounting
principles, difficulties in retaining key employees and customers,
unanticipated costs under fixed-price service and system
integration engagements, and various other factors beyond our
control. These risks and uncertainties also include such additional
risk factors as are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, including its Annual
Report on Form 10-K for the fiscal year ended July 2, 2021. The
Company cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
The Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement is made.
CONTACTRobert McGrail, Director of
Corporate CommunicationsMercury Systems Inc.+1 (978)
967-1366 | robert.mcgrail@mrcy.com
Mercury Systems and Innovation That Matters are registered
trademarks of Mercury Systems, Inc. Other product and company names
mentioned may be trademarks and/or registered trademarks of their
respective holders.
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