ATPX news release:
Thursday April 30, 1:55 pm Eastern Time
Company Press Release
SOURCE: Lockheed Martin
Lockheed Martin Awards ATP's Marion Composites Star Supplier Award
ATLANTA, April 30 /PRNewswire/ -- Marion Composites, a division of Advanced Technical Products, Inc. (Nasdaq: ATPX - news) announced today that they have been awarded the Lockheed Martin (NYSE: LMT - news) Aeronautics Material Management Center (AMMC) STAR Supplier Award. Marion Composites supplies critical aircraft performance hardware to Lockheed Martin.
STAR supplier status is awarded to Lockheed Martin suppliers who meet the most stringent criteria in the aerospace industry. Only 149 members from a production supplier base of approximately 1300 have been granted STAR supplier status.
The award selection process is a coordinated action between Lockheed Martin and the affected government procurement agency. Flight critical hardware suppliers, such as Marion Composites, must demonstrate requirements for one year and must pass scrutiny of the affected government contract agency.
STAR suppliers earn numerous benefits, including a reduction of inspection and audit at their facility, a more favorable position in the contract bid and award process and recognition of their superior performance in the marketing arena. Lockheed Martin and its customers benefit from higher supplier product quality, improved delivery performance and associated cost savings.
Marion Composites, a division of ATP designs radomes and produces a wide variety of composite structures for high performance jet aircraft and shelter systems. ATP was formed on October 31, 1997 through the merger of Lunn Industries, Inc. and TPG Holdings, Inc. ATP designs, develops and manufactures advanced composite-based materials and products from high strength fibers, which optimize strength-to-weight performance. ATP is one of a few companies able to utilize multiple high-tech processes such as autoclave lamination, filament winding, resin transfer and metal bonding. Using these processes, the Company produces products for the aerospace and defense markets, as well as for commercial applications, including, oil and gas and pressure vessels for Natural Gas Vehicles. |
