Lockheed Martin Takes Further Steps in COVID-19 Response
Lockheed Martin committed another $50 million in advances to its supply chain on April 9, marking the third advance, for a total of $156 million, to keep its supply chain strong during the COVID-19 pandemic. In addition, Chairman, President, and CEO Marillyn Hewson said that because the U.S. Department of Defense (DoD) has changed its progress payment policy, Lockheed Martin estimates that it will flow down more than $450 million in accelerated payments to its supply chain partners.
The company also announced that it plans to provide air transport of government medical teams to the most critical locations in the country by partnering with the U.S. Department of Health and Human Services (HHS).
“As we continue to face this unprecedented crisis, Lockheed Martin is driven by our commitment to the mission of our U.S. and allied customers,” Hewson said. “We will continue to maintain our operations for our men and women in uniform and we are resolved to find additional ways to contribute to the relief and recovery from COVID-19.”
Lockheed Martin previously said it is committed to hiring during this crisis, and also pledged $10 million to non-profit relief organizations. On Thursday, the company said $2 million has been donated to Project HOPE, which delivers personal protective equipment (PPE) to healthcare professionals; $2 million to the American Red Cross; and $2 million to the Centers for Disease Control (CDC) Foundation All of Us: Combat Coronavirus emergency response fund.