Lockheed Martin to assist IERUS in developing technical and business capabilities

HUNTSVILLE, Ala., 8 Nov. 2012. Lockheed Martin (NYSE: LMT) and IERUS Technologies Inc. have signed a three-year agreement under the Department of Defense (DoD) Mentor-Protege Program.

IERUS Technologies has supported Lockheed Martin since 2010 as a subcontractor, and is a part of the Lockheed Martin-led industry team bidding for the U.S. Missile Defense Agency’s medium-range ballistic missile targets contract.

The Mentor-Protege Program encourages prime contractors to serve as mentors in developing the technical and business capabilities of small businesses. Through this program, Lockheed Martin Space Systems Company will assist IERUS Technologies in developing its government contract accounting system, quality and procurement processes and export control processes.

According to Lockheed Martin officials, the company selected IERUS Technologies as a protege company because of its performance, as well as its radio frequency and radar technology capabilities. Lockheed Martin hopes this will help strengthen its supplier base.

IERUS hopes that this partnership will grow its business in missile defense and other markets, as well as providing enablers for opportunities such as the upgraded early warning radar-cobra dane testing and other contracts, IERUS officials said.