News Story Details
September 2, 2010
NORTHSTAR NETWORK LTD. SIGNS $16.4M MASTER
Sept 02, 2010 – St. Johnʼs NL - Northstar Network Ltd. (Northstar) announced today that Lockheed Martin has signed a new Master Purchase Order (MPO) with them to increase the value of its contract from $7.2M (US) to $16.4M (US).
“This significant production increase further defines Northstar as a serious player in Aerospace manufacturing in Atlantic Canada,” says Howard Nash, President of Northstar Network.
Under Lockheed Martinʼs P-3 Mid-Life Upgrade (MLU) Program, Northstar manufactures finished components and assemblies for new production service life extension kits for the P-3 Orion wing upgrade. The MLU adds more than 15,000 flying hours to each aircraft, representing 15 to 20 additional years of service for this critical maritime patrol and reconnaissance resource.
Northstar is responsible for supplying approximately 400 parts and assemblies per aircraft, or about one fifth of the total parts required under the wing upgrade program. These parts and assemblies primarily include machined parts and formed sheet metal assemblies of various levels of complexity in aluminium and alloy steel, and range from simple structural members to flight critical components.
“Northstar Network has doubled itʼs revenues year over year for the past three years, and the signing of this new contract with Lockheed Martin will go a long way ensuring that we continue that growth pattern. The awarding of this contract clearly demonstrates Lockheed Martinʼs commitment to Northstar Network & Atlantic Canada,” said Mr. Nash.
About Northstar Network:
Northstar Network Ltd. is a AS 9100 systems integrator and supply chain manager that together with its 25+ affiliated companies and educational institutions offers industry leading capabilities in systems integration, design engineering, precision machining, mechanical fabrication, electronic contract manufacturing and sonar design capabilities. Northstar Network Ltd. is wholly owned by Northstar Electronics Inc. (OTCBB: NEIK).
For More Information Contact:
Howard D. Nash
Northstar Network Ltd.
1 Duffy Place, Suite 9
St. Johnʼs, NL, Canada
Office (709) 738-6448 Ext 237
Fax: (709) 738-6613
Cell (709) 687-7326
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