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Moog Announces Award of Lockheed Martin Production Contracts for F-35 Lightning II

November 20, 2019 GMT

EAST AURORA, N.Y.--(BUSINESS WIRE)--Nov 20, 2019--

Moog Inc. (NYSE: MOG.A and MOG.B) announced today that the company has been awarded contracts for the Primary Flight Control Actuation System, also known as the Electro-Hydrostatic Actuation System; the Leading Edge Flap Drive System; and the Wingfold Actuation System from Lockheed Martin on the F-35 Lightning II 5 th Generation fighter.

“The F-35 will be in service for decades, and we’re committed to providing our warfighters the very best equipment,” said Ralph Elbert, Group VP Military Sector. “Moog’s unique capabilities of providing actuators, power drive electronics, control electronics and software allows us to provide unmatched value to Lockheed Martin on the F-35 aircraft.”

Lockheed Martin has put Moog under contract for the next three years of F-35 production with a contract value in excess of $400 million dollars.

“With strong government-industry partnerships and a relentless focus on cost reduction, the

F-35 enterprise has successfully reduced procurement costs of the F-35 to equal or less than 4th Generation legacy aircraft.” said Lockheed Martin Executive Vice President and General Manager of the F-35 Program Greg Ulmer. “The unit price for all three F-35 variants has been reduced, including the F-35A cost below $80 million in Lot 13, achieving the Pentagon and Lockheed Martin’s long-standing cost reduction commitment earlier than planned.”

Moog is proud to be a valued supplier of Lockheed Martin on the F-35 program and looks forward to supporting our nation’s and allies’ defense on this platform for years to come.

Moog Inc. is a worldwide designer, manufacturer, and integrator of precision control components and systems. Moog’s high-performance systems control military and commercial aircraft, satellites and space vehicles, launch vehicles, missiles, automated industrial machinery, marine and medical equipment. Additional information about the company can be found at www.moog.com.

Cautionary Statement

Information included or incorporated by reference in this report that does not consist of historical facts, including statements accompanied by or containing words such as “may,” “will,” “should,” “believes,” “expects,” “expected,” “intends,” “plans,” “projects,” “approximate,” “estimates,” “predicts,” “potential,” “outlook,” “forecast,” “anticipates,” “presume” and “assume,” are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company’s current views with respect to certain current and future events and financial performance and are not guarantees of future performance. This includes but is not limited to, the Company’s expectation and ability to pay a quarterly cash dividend on its common stock in the future, subject to the determination by the board of directors, and based on an evaluation of company earnings, financial condition and requirements, business conditions, capital allocation determinations and other factors, risks and uncertainties. The impact or occurrence of these could cause actual results to differ materially from the expected results described in the forward-looking statements. These important factors, risks and uncertainties include:

These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. Given these factors, risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictive of future results. We disclaim any obligation to update the forward-looking statements made in this report.

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CONTACT: Ann Marie Luhr

716-687-4225

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ENGINEERING AEROSPACE MANUFACTURING

SOURCE: Moog Inc.

Copyright Business Wire 2019.

PUB: 11/20/2019 07:25 AM/DISC: 11/20/2019 07:25 AM

http://www.businesswire.com/news/home/20191120005191/en