21 February 1999 -- Press
Releases:
Defense and Civil Systems Business
Unit
Lockheed
Martin Vought Systems and DaimlerChrysler
Aerospace AG establish joint venture company for PAC-3 Missiles
Dallas/Munich
- Lockheed Martin Vought Systems of Dallas, Text, USA, and
DaimlerChrysler Aerospace AG (Dasa, Munich, Germany) have established a
joint venture company for PAC-3 Missiles work in Germany.
The new joint venture is expected to be the venue for offset production
of missile equipment, and final missile integration, test and logistic
support for the Patriot Advanced Capability-3 (PAC-3) Missile
procurement of Germany. It is also anticipated that the company will
play a significant role in the application of the PAC-3 Missile future
growth potential.
At a meeting yesterday in Munich, representatives of both parent
companies signed the documents which will be used to register the new
German company. It will formally be known as "GLVS - Gesellschaft für
Luftverteidigungssysteme mbH", which is translated "Air
Defense Systems Company". Günter Stammler of DaimlerChrysler
Aerospace and Ed Ulery of Lockheed Martin Vought Systems have been
nominated as General Managers.
"This strategic partnership between Lockheed Martin Vought Systems
and DaimlerChrysler Aerospace will provide state-of-the-art PAC-3
Missile-related equipment and support to our customers", said Jim
Berry, president of Lockheed Martin Vought Systems. "Out commitment
is to our customers, and this partnership will tie our tow companies
together with the goal of total customer satisfaction."
"This new relationship with Lockheed Martin Vought Systems is
compatible with our strategic interest to cooperate in the field of the
PAC-3 Missile Segment and its growth potential to meet future defense
requirements", said Ulf Wossagk, Dasa Vice President and General
Manager Dasa Missile and Air Defense Systems.
Planning for the joint venture began in early 1998 with the signing of
an agreement between the two companies to explore the partnership
parameters. Since that time, Lockheed Martin Vought Systems and
DaimlerChrysler Aerospace have worked closely together to structure an
organization that will provide enhanced products and services to both
current and future customers.
DaimlerChrysler Aerospace, the leading German aerospace company,
integrates military and commercial aircraft, helicopter, space, defense
and aeroengines activities of the DaimlerChrysler Group. Dasa operates
on a world-wide basis. It is a partner in a large number of
international collaborations and alliances. Its Defense and Civil
Systems business unit is active in the fields of defense electronics,
guided missile systems and telecommunications equipment, and provides
solutions on a broad technological basis for complex systems.
Lockheed Martin Vought Systems manufactures missiles, rocket and space
systems, and is a business unit of Lockheed Martin Electronics Sector, a
global leader in the design, development and production of advanced
electronics for defense, civil and commercial applications.
Headquartered in Bethseda, Maryland, Lockheed Martin is a highly
diversified global enterprise principally engaged in the research,
design, development, manufacture and integration of advanced-technology
products and services. The Corporations core business span aeronautics,
electronics, energy and environment, information and services, space and
strategic missiles, and systems integration.
Dallas/Munich, 11 February 1999
Your point of contact:
Lockheed Martin Vought Systems
Craig Vanebber
Telephone: 972-603-1615
DaimlerChrysler Aerospace
Defense and Civil Systems
Wolfram Lautner
Telephone: +49-89-607-2933
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