Lockheed Martin and Ministry of Economy Prolong Industrial Partnership Agreement

Lockheed Martin has signed an extension of its Industrial Cooperation Agreement with the Industrial Cooperation Authority (ICA) at the Ministry of Economy and Industry. The signing ceremony was attended by Minister of Economy and Industry, Nir Barkat, Global Operations Manager at Lockheed Martin, Frank St. John, CEO of Lockheed Martin Israel, Tal Glaur, Industry System Manager Nurit Tzur-Rabino, and ICA Department Manager Yezid Sheikh Joseph.

Lockheed Martin and the Israeli government first signed an Industrial Cooperation Agreement in 2005. So far, Lockheed Martin has invested more than four billion dollars in Israeli defense and aviation industries, leveraging Israel's advanced technology industry. In 2020, Lockheed Martin and the ICA signed a new Industrial Cooperation Agreement aimed at strengthening cooperation and industrial ties between Lockheed Martin and local industries for a period of five years. Since the agreement was signed in 2020, Lockheed Martin has invested more than 470 million dollars in Israeli companies, projects, and activities. The extension of the existing agreement will allow its validity to continue until the end of 2029.

The extended umbrella agreement includes a commitment for Lockheed Martin to reinvest in Israel in an amount not less than 35% of the value of new contracts signed. This, as a renewal of the agreement that has so far included many programs, including the F-16I, C-130J aircraft, Blackhawk and Yasur helicopters, and the CH-53K helicopter. The extension of this agreement will mean the continuation of Lockheed Martin's investments and commitment to the Israeli industry in both existing and future programs.

Nir Barkat, Minister of Economy and Industry: "The extension of the agreement with Lockheed Martin is a clear vote of confidence in the Israeli industry and our innovation. Cooperation strengthens Israel's security, generates new growth engines, and brings investments that provide significant opportunities for the local industry to expand and increase exports. We will continue to lead moves that attract strategic partners to Israel and generate thousands of quality jobs across the country."

Frank St. John, Global Operations Manager at Lockheed Martin: "The extension of the Industrial Cooperation Agreement strengthens Lockheed Martin's ongoing role as a long-term partner to Israel, allows us to strengthen resilience through a broader industrial presence, deeper cooperation with leading Israeli companies, and promote STEM (Science, Technology, Engineering, and Mathematics) initiatives with broad influence, building the vital talents for Israel's future defense capability. We are proud to develop these partnerships and provide long-term security, while innovating technologically and bringing economic value to the State of Israel."