Mercury Systems and Lockheed Martin to Advance Defense Manufacturing Capabilities in Switzerland
March 21 2024 - 7:00AM
Mercury Mission Systems International SA (www.mrcy.com), a
technology company that delivers mission-critical processing power
to the edge, today announced that it will advance the manufacturing
of defense technologies in Switzerland in collaboration with
Lockheed Martin. This project is a direct result of the offset
program between Lockheed Martin and the Swiss government as part of
Switzerland’s purchase of the F-35 Lightning II.
Under two initial engineering development agreements, Mercury
will begin manufacturing several embedded computing technologies at
its production facility in Geneva. These projects will be enabled
by the transfer of two of armasuisses’s key security-relevant
technologies–software-defined radio technologies and cryptology–to
Swiss industry. Mercury expects to receive further expansion
opportunities over time to bring the manufacture of additional
capabilities to Switzerland.
“We are thrilled to work with Lockheed Martin to bring the
manufacture of cutting-edge defense technologies to Switzerland,”
said Paul Tanner, VP and GM of Mercury International. “These
agreements will expand the Mercury Processing Platform and allow us
to bring new, advanced capabilities to the European market.”
With high-tech facilities and workforces in Switzerland, as well
as Spain and the United Kingdom, the Mercury Processing Platform
enables capabilities that support the critical missions and
industrial development of U.S. allies through offset and other
agreements.
“Lockheed Martin is proud to partner with Mercury as they expand
the capability of their facility in Switzerland,” said Karl
Sapienza, director of F-35 Customer Programs at Lockheed Martin.
“We look forward to continuing to build on our partnership with
Swiss industry to drive collaboration and advance opportunity
through the F-35 offset program.”
Mercury Systems – Innovation that
matters®Mercury Systems is a technology company that
delivers mission-critical processing power to the edge, making
advanced technologies profoundly more accessible for today’s most
challenging aerospace and defense missions. The Mercury Processing
Platform allows customers to tap into innovative capabilities from
silicon to system scale, turning data into decisions on timelines
that matter. Mercury’s products and solutions are deployed in more
than 300 programs and across 35 countries, enabling a broad range
of applications in mission computing, sensor processing, command
and control, and communications. Mercury is headquartered in
Andover, Massachusetts, and has 24 locations worldwide. To learn
more, visit mrcy.com. (Nasdaq: MRCY)
Forward-Looking Safe Harbor StatementThis press
release contains certain forward-looking statements, as that term
is defined in the Private Securities Litigation Reform Act of 1995,
including those relating to the Company's focus on enhanced
execution of the Company's strategic plan under a refreshed Board
and leadership team. You can identify these statements by the words
“may,” “will,” “could,” “should,” “would,” “plans,” “expects,”
“anticipates,” “continue,” “estimate,” “project,” “intend,”
“likely,” “forecast,” “probable,” “potential,” and similar
expressions. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from those projected or anticipated. Such risks and uncertainties
include, but are not limited to, continued funding of defense
programs, the timing and amounts of such funding, general economic
and business conditions, including unforeseen weakness in the
Company’s markets, effects of any U.S. federal government shutdown
or extended continuing resolution, effects of geopolitical unrest
and regional conflicts, competition, changes in technology and
methods of marketing, delays in or cost increases related to
completing development, engineering and manufacturing programs,
changes in customer order patterns, changes in product mix,
continued success in technological advances and delivering
technological innovations, changes in, or in the U.S. government’s
interpretation of, federal export control or procurement rules and
regulations, changes in, or in the interpretation or enforcement
of, environmental rules and regulations, market acceptance of the
Company's products, shortages in or delays in receiving components,
supply chain delays or volatility for critical components such as
semiconductors, production delays or unanticipated expenses
including due to quality issues or manufacturing execution issues,
capacity underutilization, increases in scrap or inventory
write-offs, failure to achieve or maintain manufacturing quality
certifications, such as AS9100, the impact of supply chain
disruption, inflation and labor shortages, among other things, on
program execution and the resulting effect on customer
satisfaction, inability to fully realize the expected benefits from
acquisitions, restructurings, and operational efficiency
initiatives or delays in realizing such benefits, challenges in
integrating acquired businesses and achieving anticipated
synergies, effects of shareholder activism, increases in interest
rates, changes to industrial security and cyber-security
regulations and requirements and impacts from any cyber or insider
threat events, changes in tax rates or tax regulations, such as the
deductibility of internal research and development, changes to
interest rate swaps or other cash flow hedging arrangements,
changes to generally accepted accounting principles, difficulties
in retaining key employees and customers, litigation, including the
dispute arising with the former CEO over his resignation,
unanticipated costs under fixed-price service and system
integration engagements, and various other factors beyond our
control. These risks and uncertainties also include such additional
risk factors as are discussed in the Company's filings with the
U.S. Securities and Exchange Commission, including its Annual
Report on Form 10-K for the fiscal year ended June 30, 2023 and
subsequent Quarterly Reports on Form 10-Q and Current Reports on
Form 8-K. The Company cautions readers not to place undue reliance
upon any such forward-looking statements, which speak only as of
the date made. The Company undertakes no obligation to update any
forward-looking statement to reflect events or circumstances after
the date on which such statement is made.
INVESTOR CONTACTNelson EricksonSenior Vice
President, Strategy and Corporate
DevelopmentNelson.Erickson@mrcy.com
MEDIA CONTACTTurner BrintonSenior Director,
Corporate Communications Turner.Brinton@mrcy.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b60ecd63-0cd4-421b-901f-085f0b3683f5
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