Lockheed Martin invests $10M in Montréal defence firm
Mannarino Systems and Software, a firm that supplies mission-critical equipment to the aerospace and defence sectors, will receive the investment as part of Lockheed's procurement commitments to the federal government
Research & Development
Technology / IIoT
MONTRÉAL—Montréal-based Mannarino Systems and Software, an engineering firm that supplies mission-critical equipment to the aerospace and defence sectors, will receive a $10-million investment from Lockheed Martin.
The investment by Lockheed is part of the company’s obligation to the federal government’s Industrial and Technology Benefit (ITB) Policy, which requires suppliers to invest in the Canadian economy an amount equal to the defence contracts they have been awarded by the feds.
In this case, military equipment giant Lockheed has an ITB obligation for winning an in-service support contract for the Canadian Force’s C-130J Super Hercules, a transport aircraft.
Lockheed’s investment will support Mannarino’s efforts to develop proprietary software systems for aircraft.
Since 1986, Canada’s ITB Policy (and previously the Industrial and Regional Benefits Policy) have contributed almost $40 billion to Canada’s gross domestic product.
“The Industrial and Technological Benefits Policy has real and tangible benefits. By applying this policy, the federal government is able to create high-skilled, well-paying jobs for Canadians working in the sector,” said Navdeep Bains, minister of Innovation, Science and Economic Development.