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Lockheed Martin Aeronautics Reaches New Contracts With Two Unions at Fort Worth Plant

Posted on: Saturday, 16 May 2009, 13:59 CDT

FORT WORTH, Texas, May 16 /PRNewswire-FirstCall/ -- Members of the International Brotherhood of Electrical Workers (IBEW) and the Office and Professional Employees International Union (OPEIU) have ratified new labor agreements with Lockheed Martin (NYSE: LMT) Aeronautics in Fort Worth. The new agreements become effective May 18 and will extend for three years.

The IBEW members approved their agreement in a vote on Friday, May 15, and the OPEIU members approved their agreement today. The IBEW represents about 65 employees at the company's Fort Worth site, while the OPEIU represents about 450. The unions and company had been negotiating since the beginning of April.

"We're pleased the union members ratified this new contract. Our employees perform a critical task for our customers and the nation through their work supporting the F-35, F-16, F-22 and other business programs, and this new contract will help keep them on the job for the next three years," said June Shrewsbury, executive vice president of Company Integration for Lockheed Martin Aeronautics.

Members of the International Association of Machinists and Aerospace Workers (IAM) ratified a three-year labor agreement with Lockheed Martin in Fort Worth on April 19.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 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 2008 sales of $42.7 billion.

SOURCE Lockheed Martin Aeronautics Company

Source: PR Newswire

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