Terma and NGC Sign F-35 MoU

A memorandum of understanding (MOU) was signed yesterday at the Confederation of Danish Industry between Terma and Northrop Grumman Corporation [NYSE: NOC] confirming future opportunities for Terma to pursue additional component production beyond their current contracted agreements for the F-35 Lightning II Joint Strike Fighter.

Terma President and Chief Executive Officer, Jens Maaløe, Northrop Grumman Vice President & F-35 Program Manager, Frank Carus, and Northrop Grumman International Procurement Manager, Saima Ahmad, were on hand for the ceremonial signing of the MOU. This memorandum states that Northrop Grumman will offer Terma the opportunity for continued F-35 component work for the F-35 beyond Low Rate Initial Production (LRIP) Lot 11, provided Terma remains the best-value source.

“The agreement we signed today is strong evidence of Terma’s present and future position on the F-35 program and it shows how collaboration can benefit Terma, Danish Industry, and the F-35 program as a whole. Terma has established a solid and reliable technology base for our future involvement in the F-35 program beyond LRIP 11. At present, Terma has invested heavily in technology and production facilities, in Denmark,” said Maaløe.

In 2012, Terma entered into a long-term agreement with Northrop Grumman to manufacture composite and bonded assembly parts for all three variants of the F-35.

“We appreciate the expertise that Terma employees continue to deliver for the Northrop Grumman F-35 center fuselage program. This agreement exhibits Northrop Grumman’s confidence that Terma will continue to produce the highest quality parts for the best value,” said Saima Ahmed. «Terma and Northrop Grumman have a long history of working together, and we look forward to that continuing.»

Terma currently has eight different production programs within advanced composite structural parts and electronics on the F-35. Terma has been working on the program since 2002 when Denmark joined the F-35 program as a partner country. In 2016 the Danish Parliament down-selected the F-35 as Denmark’s next fighter.

Source: Terma A/S

Κατηγορίες: Market News


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