Lockheed Martin Receives $156 Million Contract to Extend Canadian CP-140 Aurora Aircraft Service Life

MARIETTA, Ga., Nov. 19 /PRNewswire-FirstCall/ -- Lockheed Martin (NYSE: LMT) has received a $156 million contract to provide the P-3 Aircraft Service Life Extension Program (ASLEP) for the Canadian Forces' CP-140 aircraft fleet.

Under this contract, 10 Canadian CP-140 Aurora aircraft will receive Life Extension Kits consisting of all-new outer wings, center wing lower surface assemblies, horizontal stabilizers, wing and horizontal stabilizer leading edges, and various items to be installed on a conditional basis. Lockheed Martin Life Extension Kits will provide, on average, an additional 20-25 years of service life for the world's Orion and Aurora fleets and will greatly reduce maintenance costs over the aircraft's service life.

"Lockheed Martin Life Extension Kits will give the Canadian Forces an additional 15,000 flight hours of service life from their Auroras," said Ray Burick, Lockheed Martin vice president of P-3/S-3 programs. "The ASLEP solution leverages the knowledge and experience of Lockheed Martin as the original equipment manufacturer to support the P-3 and CP-140 aircraft."

Canada becomes the fourth customer under the Lockheed Martin P-3 ASLEP program. Other customers for the Life Extension Kits are the Royal Norwegian Air Force and the U.S. Customs and Border Protection. The U.S. Navy is under contract for 13 sets of new outer wings. A proposal for the Taiwan P-3 fleet is also in work.

"Lockheed Martin's ASLEP solution is the most cost-effective, lowest risk choice for long-term P-3 or CP-140 sustainment," said Burick. "As the P-3 original equipment manufacturer, Lockheed Martin is uniquely qualified to sustain and support the world's P-3 fleets."

Lockheed Martin is a major supplier of logistics systems and lifetime support and performance-based logistics services to military and civil government customers. The corporation provides solutions for platform maintenance, modifications and repair, material readiness and distribution, and global supply chain command and control.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2007 sales of $41.9 billion.

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