FORT WORTH, TX--(BUSINESS WIRE)--Sep. 9, 2013-- Bell Helicopter, a Textron Inc. company (NYSE: TXT), and Lockheed Martin (NYSE: LMT) will work as a team on the Bell V-280 Valor™, making Lockheed Martin the first of Bell Helicopter's V-280 program tier one team members. Additional team members will be announced in the coming months.
"We are very excited about teaming with Lockheed Martin on the V-280,” said John Garrison, president and CEO of Bell Helicopter. "Lockheed Martin is a premier defense and aerospace contracting company celebrating 100 years of success. Their experience and innovation, combined with their strong business relationships serving their customers at the U.S. Department of Defense and other government agencies, will help us provide the highest levels of maturity and technical readiness required for Future Vertical Lift missions.”
“We made the strategic decision to invest in a mission system and provide Bell Helicopter with this leap-ahead combat capability on the V-280 Valor,” said Dale P. Bennett, executive vice president, Lockheed Martin Mission Systems and Training. “The U.S. Government and Lockheed Martin have created affordable yet highly-advanced mission equipment packages for numerous aircraft that can be leveraged to provide an affordable and effective solution for the Future Vertical Lift program. Our efforts will allow the U.S. Army to take advantage of the advanced technology and maturity we’ve achieved in integrated avionics, sensors, and weapons.”
The Bell V-280 Valor was recently selected by the U.S. Army to enter into negotiations for the Joint Multi-Role (JMR) Technology Demonstrator (TD) program, with contracts expected to be awarded by September 2013 . The transformational features of Bell Helicopter's third generation tiltrotor capitalize on combat-proven technology. The Valor is designed to deliver the best value in procurement, operations and support, and force structure, through increased maintainability, component reliability and systems designed to reduce operational and support costs. The Valor’s versatile design has the capacity to perform a multitude of missions with unparalleled speed, range and agility, making the aircraft a combat multiplier. The Bell V-280 is the most advanced and operationally effective vertical lift solution, providing the warfighter a decisive advantage.
About Bell Helicopter
Bell Helicopter, a wholly owned subsidiary of Textron Inc., is an industry-leading producer of commercial and military, manned and unmanned vertical-lift aircraft and the pioneer of the revolutionary tiltrotor aircraft. Globally recognized for world-class customer service, innovation and superior quality, Bell's global workforce serves customers flying Bell aircraft in more than 120 countries.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
About Lockheed Martin
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 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 2012 were $47.2 billion.
Certain statements in this press release are forward-looking statements which may project revenues or describe strategies, goals, outlook or other non-historical matters; these statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements. These statements are subject to known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, the risk that contract awards for the Joint Multi-Role Technology Demonstrator Program or other new tiltrotor products will not be received as anticipated; the efficacy of research and development investments to develop new products or unanticipated expenses or delays in connection with the launching of significant new products or programs; changing priorities or reductions in the U.S. Government defense budget, including those related to military operations in foreign countries; changes in worldwide economic or political conditions that impact demand for our products, interest rates or foreign exchange rates; our ability to perform as anticipated and to control costs under contracts with the U.S. Government; the U.S. Government’s ability to unilaterally modify or terminate its contracts with us for the U.S. Government’s convenience or for our failure to perform, to change applicable procurement and accounting policies, or, under certain circumstances, to withhold payment or suspend or debar us as a contractor eligible to receive future contract awards; changes in foreign military funding priorities or budget constraints and determinations, or changes in government regulations or policies on the export and import of military and commercial products; and performance issues with key suppliers, subcontractors or business partners.
www.bellhelicopter.com
Bell Helicopter Textron Inc. Post Office Box 482, Fort Worth, TX 76101-0482
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Source: Textron
Bell Helicopter:
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Lockheed Martin:
KEITH LITTLE, 571-357-6357
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