Honeywell Estimates Revenues From Lockheed Martin's Joint Strike Fighter To Exceed $5 Billion Over Life Of Program
MORRIS TOWNSHIP, N.J.--Oct. 29, 2001--Honeywell said today it expects revenues generated from Honeywell products, systems and services on the Lockheed Martin Joint Strike Fighter to exceed $5 billion over the life of the new fighter jet program.
Honeywell's presence on the fighter jet includes the landing system's wheels and brakes, onboard oxygen-generating system, engine components, and the power and thermal management system driven by an integrated auxiliary power unit (APU). Other Honeywell products being finalized for the program include radar altimeter, inertial navigation/global positioning system and air data transducers. Beyond new components and systems, the company also will provide repair and overhaul maintenance services, including spare parts.
"Honeywell's broad components and services content on Lockheed's Joint Strike Fighter represents an important contribution to our nation's defense and to our company," said Honeywell Chairman and CEO Lawrence A. Bossidy. "We expect to begin realizing revenues from the program beginning in the first half of 2002. Thousands of Honeywell employees across the globe will be involved in the Joint Strike Fighter effort, and we are all proud to support this exciting program."
Honeywell is a US$25-billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics; and electronic and advanced materials. Honeywell employs approximately 120,000 people in 95 countries and is traded on the New York Stock Exchange under the symbol HON, as well as on the London, Chicago and Pacific stock exchanges. It is one of the 30 stocks that make up the Dow Jones Industrial Average and is also a component of the Standard & Poor's 500 Index. Additional information on the company is available on the Internet at www.honeywell.com.
This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.