Lockheed Martin Aeronautics Machinists Union Members Approve New Three-Year Contract for Fort Worth and Related Sites

FORT WORTH, TX -- Members of the International Association of Machinists and Aerospace Workers (IAM), District 776, have ratified a new labor agreement with Lockheed Martin (NYSE: LMT) Aeronautics. The new agreement is effective April 20, 2009, and extends to April 22, 2012.

The agreement covers three IAM bargaining units -- production and maintenance employees, firefighters and nurses -- and includes Lockheed Martin employees in Fort Worth, TX; at Edwards AFB, CA; and at NAS Patuxent River, MD. The union has more than 3,500 total members.

"We're pleased the Machinists union members ratified this new contract," says June Shrewsbury, executive vice president of Company Integration for Lockheed Martin Aeronautics. "It rewards our excellent workforce with fair and equitable wages, benefits and other provisions. Our employees perform a critical task for our customers and the nation through their work on the F-35, F-16, F-22 and other programs, and this new contract will help keep them on the job for the next three years."