Mannarino awarded largest ever Canadian SME offset investment by Lockheed Martin
Apr 03, 2017, 14:07 ET
MONTREAL, April 3, 2017 /CNW Telbec/ - Mannarino Systems & Software, Inc. (MANNARINO) announced today that it has signed an Investment Framework Agreement under the Industrial and Technological Benefits (ITB) Policy with Lockheed Martin (NYSE: LMT), which represents the largest investment ever made by Lockheed Martin into a Canadian Small and Medium-Sized Enterprise (SME). This agreement enables MANNARINO to develop and commercialize its own proprietary airborne software products and will complement MANNARINO's existing airborne engineering and certification services offering.
The offset investment behind Lockheed Martin's framework investment is in direct support of Industrial and Technological Benefits (ITB) obligations associated with Canada's purchase and In-Service Support maintenance, and support of 17 CC-130J Super Hercules aircraft, which were delivered to the Royal Canadian Air Force in 2010.
"MANNARINO's investment agreements with Lockheed Martin have been a key factor in our steady growth. MANNARINO has always been recognized for its professionalism and expertise as a world-class engineering services company. This particular investment will be the springboard that propels our company into the airborne software products business. Our decision to diversify the company offering was based on the feedback received from our existing customers on their current and future program requirements. We will keep the industry apprised of our product ventures throughout the various phases of the evolution of our products and welcome continued input from customers on their software product needs" said John Mannarino, president and founder of Mannarino Systems & Software.
This important and groundbreaking investment by Lockheed Martin into MANNARINO will result in job creation of 20+ engineering R&D positions, as well as new jobs in product commercialization, all at MANNARINO's offices in Montreal, Quebec.
"We are very pleased to see our Investment Framework grant going to such a solid small and medium enterprise as MANNARINO" said Charles Bouchard, chief executive of Lockheed Martin Canada. "We have been impressed by MANNARINO's track record as an engineering services firm in the development and certification of software products that are globally competitive and are proud to support such an innovative organization. The success of this framework investment is an example of how large international aerospace companies such as Lockheed Martin can collaborate with smaller businesses in Canada to create opportunities for lasting growth in the Canadian economy."
Click here for announcement on the Investment Framework Agreement by the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development.
ABOUT LOCKHEED MARTIN
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website.
Mannarino Systems & Software, Inc. is a Transport Canada approved Design Approval Organization (DAO) for Airborne Software (RTCA/DO-178) & Airborne Electronic Hardware (AEH) (RTCA/DO-254) and provides safety-critical systems, software and electronic hardware engineering services to the aerospace, defense, space, simulation, rail and power generation industries. We are highly specialized in the specification, design, verification, validation and approval of safety-critical systems with particular expertise in the following areas:
- Airborne Software (RTCA/DO-178B/C)
- Real-Time Software
- Systems Engineering
- Airborne Electronic Hardware (AEH) (RTCA/DO-254)
- RTCA/DO-178B/C Training
- Industrial Gas Turbine Controls Software & Simulation
- Aircraft Systems Simulation
For information on job openings please visit our website at www.mss.ca/careers
SOURCE Mannarino Systems & Software Inc
For further information: For further information regarding Lockheed Martin, please contact: Cindy Tessier. Lockheed Martin Canada, Head of Communications, Tel: (613) 762-5753 | [email protected] ; For further information regarding MANNARINO, please contact: Sue Dabrowski, Mannarino Systems & Software, Offsets & Communications, Tel: (514) 381-1360 x 232 | [email protected] ; Tony Gentile, Mannarino Systems & Software, Business Development, Tel: (860) 944-4378, [email protected]
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