Lockheed Martin Corporation today entered into an agreement to strengthen its commitment to small businesses in the state of Massachusetts.

Lockheed Martin and Massachusetts Small Business Development Center Network officials signed a Memorandum of Understanding today to support the state's Procurement Technical Assistance Center (PTAC). The MOU formally establishes a working relationship and guidelines to support small business development and utilization, and will enhance current efforts towards the mutual goal of increasing small business participation in contracts. The parties agree to develop action plans, set timetables and establish a common framework for sharing ideas to develop innovative solutions.

Lockheed Martin and the Massachusetts PTAC will work together to identify small businesses with an ability to perform subcontracts for Lockheed Martin business units across the nation.

The memorandum was signed by John Hatch, Vice President, Global Supply Chain Management. "We're honored to be a part of this project, and we look forward to achieving positive results in the small business community," Hatch said. "This agreement will enhance Lockheed Martin's strong Supplier Diversity Program by establishing a model to coordinate our efforts with the PTAC organizations. On October 8th, we'll host our first Industry Day with the Massachusetts PTAC at Boston College. Our goal is to educate potential suppliers for Lockheed Martin's government and commercial contracts."

Lockheed Martin Aeronautics Company in Marietta, GA and the National Center for American Indian Enterprise Development for the Eastern U.S. currently co-sponsor the United Indian Development Center PTAC. The United Indian Development Center will assist the Massachusetts Centers under the terms of the MOU.

"This is a great day for the small businesses in Massachusetts and around the country," said Georgianna Parkin, director of the Massachusetts Small Business Development Center. "This agreement will allow our Network to work with a great partner to create a program which will benefit small businesses throughout the nation."

Michael Robinson, program manager for the PTAC, said, "We understand that the real work begins today to demonstrate our commitment to working with small businesses. Now, Lockheed Martin and the PTAC will work together to follow up, implement and coordinate efforts to provide the greatest level of opportunity to the small business community."

Headquartered in Bethesda, Maryland, Lockheed Martin employs about 125,000 people worldwide and is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. The Corporation reported 2001 sales of $24 billion.

Massachusetts companies interested in requesting assistance should visit:
                     http://msbdc.som.umass.edu/ptac

              Interested suppliers and vendors should visit:
                http://www.lockheedmartin.com/suppliernet

    For additional information on Lockheed Martin Corporation, visit:
                      http://www.lockheedmartin.com/

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SOURCE: Lockheed Martin