Lockheed Martin Aeronautics Reaches New Contract With the Federated Independent Texas Union in Fort Worth

Jun 14, 2010, 15:06 ET from Lockheed Martin Aeronautics Company

FORT WORTH, Texas, June 14 /PRNewswire-FirstCall/ -- Members of the Federated Independent Texas Union (FITU) ratified a new labor agreement yesterday with Lockheed Martin (NYSE: LMT) Aeronautics. The three-year contract covers about 270 FITU members who work in manufacturing planning, tool design and tool manufacturing planning.

The contract became effective at midnight on June 13.

Lockheed Martin's Fort Worth facility produces the F-35, F-16, major portions of the F-22 and participates in other aircraft manufacturing programs.

The company reached new labor agreements with four other unions at the Fort Worth plant in 2009. Lockheed Martin has about 14,400 employees in Fort Worth, including about 4,500 represented by unions.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2009 sales of $45.2 billion.

SOURCE Lockheed Martin Aeronautics Company