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Lockheed Martin Marks 100th Anniversary Of Lockheed Company Founding

Stocks in this article: LMT

BETHESDA, Md., Dec. 19, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) is commemorating the 100th anniversary of the founding of the Lockheed Company, which was originally incorporated on Dec. 19, 1912, in San Francisco, Calif.

To mark the occasion, Lockheed Martin is making donations in honor of Lockheed's founders to the Burbank Historical Society's Gordon R. Howard Museum and the Huntington Library, Art Collections and Botanical Gardens. Both organizations work to preserve the history of the early aerospace industry in Calif.

Today's milestone is part of a year-long campaign, during which the company is highlighting 100 stories from its history at www.lockheedmartin.com/100years and conducting 100 community service projects, from packing 2,400 Thanksgiving dinners for needy families to stuffing 20,000 care packages for troops overseas.

One hundred years ago, brothers Allan and Malcolm Lockheed founded their company out of a garage, where they worked nights and weekends building their Model G seaplane, the largest in the world at the time. Allan, a naturally gifted pilot, and Malcolm, a savvy engineer and mechanic, overcame several early setbacks and turned the Model G into a success.

"It took the Lockheed brothers two years of hard work to get their first plane airborne, and they faced innumerable technical and operational challenges along the way," said Bob Stevens, Lockheed Martin Chairman and CEO. "But they pressed on, because they knew that pushing the boundaries of innovation is neither simple nor easy. A century later, that same dedication still propels us to take on our customers' toughest challenges."

The Model G's breakthrough sparked a string of innovations that helped usher in the golden age of aviation. The brothers' second plane, the F-1 Flying Boat, earned the fledgling company its first military contract.

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