Lockheed Martin And UAE Offset Program Bureau Host Industry Workshop

ABU DHABI, United Arab Emirates, October 31, 2011 --

Lockheed Martin [NYSE: LMT] and the United Arab Emirates (UAE) Offset Program Bureau (OPB) hosted a workshop Oct. 31 for more than 30 UAE aerospace and defense companies to strengthen relationships between Lockheed Martin and local industry, paving the way for future collaboration and offset partnerships. 

The workshop, the first in a series, is designed to introduce Lockheed Martin to attendees and provide a forum to network and discuss mutual business interests.

Matar Ali Al Romaithi, Chief Officer of the OPB's Industrial Development Unit, highlighted the Bureau's efforts to align its operations and policies with the vision of the UAE's leadership by contributing to economic diversification, sustainability, technology transfer, and adding value to the people of the UAE.

"This workshop has provided an excellent opportunity for the local business community to hold open and candid discussions on a wide range of important issues currently being considered for establishing long-term relationships."

"The purpose of this workshop is to fulfill our mutual objectives of strengthening the relationship between local and foreign industries, and introducing new business opportunities for future cooperation and partnerships," he added.

At the event, Lockheed Martin briefed attendees on its business structure, products and core capabilities. The workshop concluded with small breakout sessions where local business leaders introduced their capabilities and discussed areas for future collaboration with Lockheed Martin.

"Through this workshop series, we hope to build a closer relationship with local industry, academia and the community," said Susan Maraghy, Vice President Lockheed Martin Civil and Industry Participation. "This workshop series is just the start to a long-term partnership, opening the door to future collaboration projects."

Willy Moore, Lockheed Martin Regional President, Middle East and Africa added, "The Middle East and the UAE are extremely important customers to Lockheed Martin. There's so much we can learn from each other, and this forum provides the opportunity to communicate, share and establish lasting relationships in the UAE." 

The OPB manages and operates the UAE Industrial Development Program. Since its establishment in 1992, the OPB has become a center of excellence in the development and fast-track execution of new and diverse commercial projects. Importantly, it has also become a skills and talent incubator for the development of UAE citizens.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 126,000 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 2010 sales from continuing operations were $45.8 billion.