Derco, a Lockheed Martin Company (NYSE: LMT), has signed a 20-year distribution agreement with UTC Aerospace Systems to be the distributor of spares for the 54H60 propeller system. This agreement extends the distribution relationship Derco and UTC Aerospace Systems established in 1997.
Under the agreement, Derco will distribute 54H60 spares in support of international operations effective immediately. The 54H60 is the propeller system used on the Lockheed Martin C-130B-H/L-100 Hercules, one of Derco’s primary platforms.
“UTC Aerospace Systems and Derco have shared a 20 year relationship supporting the 54H60 propeller system, a key component to the C-130 aircraft. Derco has proven to be a critical partner in supporting propeller parts to customers around the world for many years,” said Jean-Francois Chanut, general manager of Propeller Systems. “With Derco being part of the Lockheed Martin family, UTC Aerospace Systems is confident in solidifying its long-standing relationship which will ensure stable and effective support to legacy C-130 customers for many years.”
“This agreement between Derco and UTC Aerospace Systems ensures seamless support to legacy C-130 operators worldwide,” said Brian Holt, Derco president. “Our investment in 54H60 inventory allows us to extend quantity break pricing and immediate availability to customers in support of their fleets.”
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Oct 17, 2017