Lockheed Martin has announced that it will further the company’s efforts to aid important supply chain businesses that help deliver national security for the United States, the company announced on Wednesday.
“Lockheed Martin has been working closely with the Department of Defense to identify ways to provide critical financial and other support to the most vulnerable elements of the U.S. defense industrial base,” said Marillyn Hewson, chairman, president and CEO of Lockheed.
“For the last three weeks, we have accelerated payments to our supply chain, and I am pleased to announce another $50 million this week bringing our total to $156 million,” added Hewson, a 2020 Wash100 awardee.
Lockheed has projected that it will be able to flow down over $450 million in accelerated payments to its supply chain partners who are critical to supporting the economy and national security.
The company will also support the nation’s health care workers and first responders on the front lines of this crisis by donating Lockheed Martin’s corporate jet fleet to the federal government’s COVID-19 relief efforts.
Lockheed will continue its work with the Department of Health and Human Services and provide air transport of government medical teams to the most critical, high-priority locations around the country. The company also pledged $10 million in charitable contributions for COVID-19 relief and recovery efforts.
The company has donated $2 million to Project HOPE to help deliver personal protective equipment to the Federal Emergency Management Agency for distribution to America’s doctors, nurses, and first responders. Lockheed also donated $2 million to the American Red Cross to support military personnel, veterans, and families and $2 million to the CDC Foundation All of Us to combat Coronavirus emergency response fund.
“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. 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,” Hewson noted.