02/06/2015: HAI signed contract with Lockheed Martin for the five-year (2015-2019) extension of the C-130J aircraft co-production program

Lockheed Martin extends partnership with Hellenic Aerospace Industry

Hellenic Aerospace Industry (HAI S.A.) recently signed a contract with Lockheed Martin for the extension of the C-130J Super Hercules aircraft co-production program. In this context, HAI will continue to manufacture and assemble major structural parts of the C-130J aircraft through 2019.

The program started at the end of 2009 when HAI undertook the manufacturing and assembly of major parts of the military aircraft —accounting for almost 30% of the total aircraft— as a Lockheed Martin sole-source supplier for the global market.

The total value of the new contract is approximately USD 72 million.

The new contact is highly important for the Hellenic Aerospace Industry as it:

  • expands its successful cooperation with Lockheed Martin, one of the largest aerospace and defense companies worldwide,
  • provides long-term contracted workload,
  • contributes to the achievement of HAI's strategic goal for total sales growth and further enhancement of its export sales,
  • lays the groundwork for knowledge transfer and the implementation of high-end product systems through HAI's participation in the assembly of a globally successful aircraft.

"This important agreement demonstrates for one additional time, the multi-dimensional strategic cooperation of Hellenic Aerospace Industry with Lockheed Martin", said Dennys Plessas, vice-president Business Development Initiatives, Lockheed Martin.

HAI's Chief Executive Officer Mr. Demetrios Papacostas stated: "We are very satisfied with the new agreement. The extension of the program by Lockheed Martin is an acknowledgment of HAI's quality, consistency and know-how. Furthermore, it is a reward of our firm decisiveness to make the most of HAI's capability, aiming at the company's further growth and gaining the position it deserves in the global aerospace sector".