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New York, NY, May 21, 2012 - Lockheed Martin Chairman and CEO Bob Stevens, President and Chief Operating Officer Chris Kubasik, and members of the company's leadership team, rang The Opening BellSM at the New York Stock Exchange today to commemorate its Centennial.
Glenn L. Martin established the Glenn L. Martin Company in Los Angeles, Calif. on Aug. 16, 1912. He started the company after building his first plane in a rented church, where he took a leap of faith on his risky but innovative new aircraft design at the urging of Orville Wright. Four months later and four hundred miles away in San Francisco, on Dec. 19, 1912, Allan and Malcolm Lockheed founded the Alco Hydro-Aeroplane Company, later renamed the Lockheed Aircraft Company. Talented mechanics, they set up shop out of a garage, constructing seaplanes that would shatter speed and distance records for overwater flights.
In 1995, Martin Marietta and Lockheed combined their operations in a merger of equals - becoming one of the largest aerospace, defense and technology companies in the world.
"We have a history of defining new markets in support of our customers, even in challenging economic and business environments," said Stevens. "We defined modern passenger air travel with the Constellation, which later became the first plane designated Air Force One; built the first U.S. spacecraft to land on another planet; installed the first air traffic control computers and today manage 60 percent of the world's air traffic; invented the first stealth aircraft; and today we are delivering the only 5th generation fighter aircraft. We have a rich history and a bright future because our focus on innovation never waivers."
The Lockheed Martin Centennial commemoration will continue over 14-months, during that time the company will highlight 100 stories (www.lockheedmartin.com/100years) from its history, host special events for employees and customers, and conduct 100 community service projects.
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 123,000 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 net sales for 2011 were $46.5 billion.