PARIS, France, June 22, 2017 – Derco, a Lockheed Martin Company (NYSE:LMT), has signed a renewal to an exclusive distribution agreement with LORD Corporation for all LORD military products on C-130, P-3, and E-2C aircraft. Under the extension, Derco will continue distributing LORD products to the U.S. government and operators worldwide, excluding Japan.
“LORD Corporation is a long standing partner and we are excited to continue our relationship,” said Kaan Tuncel, director of strategic partnerships for Derco. “This renewal allows us to continue providing technical support and consistent part availability, while passing on quantity price breaks as cost savings to our customers.”
Derco has been LORD Corporation’s approved distributor since 1989, and this extension is testament to the success of the partnership and the ability to efficiently distribute engine mounts to operators worldwide.
“Having partnered with Derco for the last 20 years, we are excited to renew our exclusive distributor agreement with them as part of Lockheed Martin,” said Sue Cermak, global distribution manager, LORD Aerospace & Defense. “Derco has been a proven partner that successfully supports C-130, P-3 and E2C operators worldwide. Applying Derco’s aftermarket focus as part of the platform OEM with their presence in the marketplace allows both corporations to provide better support to customers through the products needed to keep aircraft flying.”
LORD Corporation is a diversified technology and manufacturing company developing highly reliable adhesives, coatings, motion management devices, and sensing technologies that significantly reduce risk and improve product performance. For more than 90 years, LORD has worked in collaboration with our customers to provide innovative oil and gas, aerospace, defense, automotive and industrial solutions. With world headquarters in Cary, N.C., LORD has approximately 3,100 employees in 27 countries and operates 19 manufacturing facilities and 10 R&D centers worldwide. LORD actively promotes STEM education and many other community engagement initiatives.
Founded in 1979, Derco, a Lockheed Martin Company based in Milwaukee, Wisconsin, is a recognized leader in providing aircraft spares distribution, logistics, component repair, and technical solutions to customers around the globe. Through solid relationships with premier original equipment manufacturers (OEMs), Derco maintains one of the largest and most diversified aircraft spares inventories in the world. Today, Derco is an integrator and full service logistics solutions provider supporting military and commercial fleets in 65 countries.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.