Lockheed Martin announced recently, the completion of its Industrial Regional Benefits (IRB) commitments, valued at $1.4 billion for the Aircraft Capability Project – Tactical (ACP-T) program. This contract was awarded in December 2007, for 17 CC-130J Super Hercules to replace the CC-130E Hercules aircraft fleet.
Completed one year ahead of plan, the global security and aerospace company met all its IRB requirements “for small and medium enterprises, aerospace and defence, and strategic aerospace and defence technology sectors and for specific regional projects in the Atlantic, Quebec, Ontario and Western regions,” according to a press release.
As part of its fulfillment, Lockheed Martin engaged many Canadian companies and universities by funding research and development for innovative technology products and services to “ignite a culture of innovation,” according to Charles Bouchard, chief executive of Lockheed Martin Canada.
“The completion of the project is an exceptional accomplishment and result of extensive collaboration for both the Lockheed Martin and ISED teams,” said Bouchard.
Navdeep Bains, Minister for Innovation Science and Economic Development (ISED), highlighted during his keynote address at CANSEC this year, five Canadian companies: GasTops, Contextere, Solace Power, Metamaterial Technologies and Mannario, who have benefited as recipients of Investment Framework (IF) projects directly related to the CC-130J.
“Knowing that the CC-130J is responsible for fostering cutting-edge technology within Canada’s business and higher education communities through these economic grants is a fitting reflection of Lockheed Martin’s commitment to innovation,” said George Shultz, Lockheed Martin’s vice president and general manager, Air Mobility & Maritime Missions.
Since 1960, the CC-130J Super Hercules have served the Royal Canadian Air Force (RCAF) in many missions in the Arctic, search and rescue and humanitarian efforts.
As part of the ACP-T program, all 17 aircraft were delivered on time and on budget to the RCAF.
Source: Yahoo Finance