Lockheed Martin invests $10M in Montreal aerospace engineering firm
Part of its ITB obligations related to its 2010 Royal Canadian Airforce CC-130J Super Hercules aircraft contract.
The federal ITB policy requires companies that have won defence and security contracts to invest an amount equal to the contract in Canada.
Lockheed Martin, an aerospace and defence company based in Bethesda, Md., is making the “offset” investment in the Montreal company to support ITB obligations associated with Canada’s purchase of 17 CC-130J Super Hercules aircraft delivered to the Royal Canadian Air Force in 2010.
Mannarino Systems and Software provides safety-critical systems, software and electronic hardware engineering services to the aerospace, defense, space, simulation, rail and power generation industries.
The company said the investment will help it develop and commercialize proprietary airborne software products, complement existing services and add more than 20 research jobs plus new jobs in product commercialization.
Canada’ aerospace and defence sector employs more than 240,000 people and contributes $31 billion annually to the economy.