Lockheed Martin CEO Dedicates New Saudi Arabia Headquarters

RIYADH, Saudi Arabia, Feb. 2, 2013 - Global security and aerospace leader Lockheed Martin [NYSE: LMT]  has today demonstrated its commitment to supporting the creation of jobs, technology transfer and capacity in Saudi Arabia’s aerospace and commercial sectors, in support of the Kingdom’s Vision 2020 and a strong national defense capability.

Speaking at the inauguration of Lockheed Martin Saudi Arabia’s new Riyadh headquarters, Dr. Hatim M. Behairy, Director Electronics, Communications and Photonics Research at KACST, said: "Today's announcement is good news for Saudi Arabia. From personal experience I have seen the benefits world class companies such as Lockheed Martin can bring to our country, through investment, training of Saudi nationals and sharing of best practices in fields such as research and education.”

Marillyn Hewson, Lockheed Martin Chief Executive Officer and President, said: “We look forward to working closely with our Saudi partners to support the Kingdom’s efforts to create a more technology-focused economy as part of the Kingdom’s Vision 2020.”

“We are focused on developing partnerships that sustain long-term jobs for Saudi people in the security, aerospace and commercial sectors,” Hewson continued.

Lockheed Martin has an active partnership with the King Abdulaziz City for Science and Technology, King Abdullah University for Science and Technology and Al Faisal University in Riyadh, focused on helping Saudi Arabia respond to the skills challenges of the next decade.  Through these partnerships, Lockheed Martin is working to empower Saudi youth through education, knowledge transfer and engagement, bringing tangible long-term benefits to the Kingdom.

“Partnerships are a critical element of the strong, strategic relationship which exists between the United States of America and the Kingdom of Saudi Arabia and an important part of sustaining our governments’ alliance for the future,” states James B. Smith, US Ambassador to Saudi Arabia.

“With the opening of our new office in Riyadh, Lockheed Martin Saudi Arabia is clearly strengthening its long term commitment to the Kingdom,” says Alan Chinoda, chief executive, Lockheed Martin Saudi Arabia.  “We are now better positioned to develop business ventures, strategic initiatives, local partnerships and, most importantly, local talent. Building on the success of our first industrial collaboration forum in Riyadh last year, we look forward to deepening our friendships in Kingdom and helping to harness the innovation and energy of the Saudi people.”

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 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.