Bangalore. August 19, 2006 (PTI)

The US-based Defence and aerospace company, Lockheed Martin today said it intended to begin “putting meaningful work” in India, independent from any sales contracts.

The $37.2 billion New York Stock Exchange-listed company said initial projects could involve manufacturing work and engineering development activities.

In a statement released at a Press conference ahead of its first aerospace and Defence supplier workshop commencing here on Monday, the company said it had been surveying potential relationships in India and sees great opportunity to add value to its product lines by working with the industry here.

“Lockheed Martin views the Indian government’s new offset policy as an opportunity to create ‘win-win’ relationships that can help deliver high quality products at affordable costs”, it said.

The company said the two-day conference here would seek to “establish inroads for commerce between its current supplier team and Indian companies that could provide parts and services for Lockheed Martin products”.

Lockheed Martin’s vice-president of business development for India, Mr Orville Prins told reporters that representatives of around 50 Indian companies were expected to attend and learn about opportunities to work with Lockheed Martin and its industry team mates.

As many as 14 associated US and international companies would join Lockheed Martin in meeting with Indian firms. The list includes BAE Systems, Elbit, GE, Goodrich, Honeywell, Northrop Grumman, Pratt and Whitney and Raytheon, he said.

“We intend to form relationships with both publicly and privately-owned Indian companies that could work with us to meet licensed production and offset requirements related to future sales of the F-16 or other Lockheed Martin products”, Prins said.

Lockheed Martin and its supplier team expected to establish agreements this year that would result in export sales from India, he said. “We hope these projects will mark the beginning of mutually beneficial long term partnerships with the Indian industry”.