Lockheed pledges advances for business partners, use of fleet and facilities for COVID-19 relief

By Marjorie Censer / March 27, 2020 at 10:33 AM

Lockheed Martin today said it is planning to advance more than $50 million to its small- and medium-sized business partners in its supply chain "to ensure they have the financial means to continue to operate, sustain jobs and support the economy."

The measure is one of several steps the contractor announced today to contribute to the coronavirus relief effort.

In a statement, Marillyn Hewson, Lockheed's chief executive, said the company is also donating $10 million to non-profits involved in COVID-19 relief and has activated a $6.5 million employee disaster relief fund for affected company employees and retirees.

Additionally, Hewson said Lockheed will offer its "engineering and technical capabilities to help solve the most pressing challenges faced by federal, state, and local officials."

"We will donate the use of our corporate aircraft and vehicle fleet for COVID-19 relief logistical support and medical supply delivery," she added. "We will donate the use of our facilities for crisis-related activities including critical medical supply storage, distribution, and COVID-19 testing, where needed and practical."

Hewson also said Lockheed will continue its recruiting and hiring efforts through virtual technology and other techniques.