RIYADH, Saudi Arabia, Jan. 31, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) held its first Industry Collaboration Forum Jan. 29-30 in Riyadh, Saudi Arabia, launching an effort geared toward strengthening relationships with local industry and creating opportunities for new partnerships.

This first forum presented participating Saudi industry, academic and government officials with an understanding of Lockheed Martin's capabilities. Lockheed Martin has made a long-term commitment to Saudi Arabia and is actively looking to develop partnerships with local businesses.     

The forum featured a number of notable speakers including Lockheed Martin President and Chief Operating Officer Chris Kubasik and United States Ambassador to Saudi Arabia James B. Smith.         

Major General Abdullah Al Saleh said, "Lockheed Martin's Industry Collaboration Forum is a positive step toward strengthening relationships with Saudi industry to assist the Kingdom in creating jobs."

In addition to briefings on Lockheed Martin's business structure, products and core capabilities, the event featured small breakout sessions where Saudi business leaders presented their ideas and discussed areas for future collaboration with Lockheed Martin.

"Lockheed Martin is proud to be a trusted partner for the Kingdom of Saudi Arabia," said Alan M. Chinoda, Lockheed Martin Saudi Arabia Chief Executive. "We are expanding our presence in the Kingdom, and broadening our engagement with Saudi industry is an important part of this effort.  We hope the process begun over the last two days will lead to new business opportunities that will benefit Saudi Arabia and its people."

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 123,000 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 2011 were $46.5 billion.

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SOURCE Lockheed Martin