LONDON - L3Harris Technologies (NYSE:LHX) marked 100 years of support for the United Kingdom's defence and security needs by signing the Armed Forces Covenant, a significant commitment to members of the armed forces community.
The pledge marks a new dimension of L3Harris's efforts to protect and advance the UK's interests at home and around the world through ground-breaking capabilities across all military branches and domains.
The Armed Forces Covenant aims to provide employees who are veterans, reservists or military family members with access to important services and opportunities, such as career development, flexibility in leave for training or deployment, and assistance with education, family well-being, healthcare and other areas. In signing the Covenant during the 2021 Defence and Security Equipment International (DSEI) exhibition, L3Harris pledges to be a forces friendly employer', welcoming the experience, skills and qualities of UK veterans and reservists to its workforce.
As we mark 100 years in the UK, we are honoured to support the country's veterans, reservists and broader military community, both as a forces friendly employer' and a strong advocate for veterans, said Christopher E. Kubasik, Vice Chair and Chief Executive Officer, L3Harris. As the world grapples with an increasingly volatile geopolitical and military landscape, L3Harris will continue to lead the way in developing technologies and capabilities that protect and advance the UK's defence and security needs as we have for the past century.
Simultaneously, L3Harris has committed to a £20,000 donation to Combat Stress, the UK's leading charity to support the mental health of veterans. L3Harris is also making available scholarships of up to £10,000 to support cadets in pilot training.
L3Harris has served military, security and civil customers in the UK since 1921, with the company's 1,500 employees now based in 14 locations across the country. It works with nearly 2,500 UK suppliers with a supply chain impact of nearly $170 million as of 2020. The company's recent investments reflect its commitment to develop and advance the UK's capabilities, including $100 million in a Farnborough facility to modernise tactical radio communications and $100 million in a Crawley facility for aviation training. The company's global autonomous maritime development work is based in the UK, generating economic impact and technological innovation that supports the UK's aspiration for leadership in this area.
The U.S. based company is working closely with the UK to help accelerate the transition toward integrated, platform-agnostic programs that leverage data and information for more effective missions. This effort comes as part of the UK's commitment to build a more modern, technologically advanced defence force, alongside partners and alliances such as NATO and Five Eyes. This includes driving the shift toward digitisation and artificial intelligence that will be crucial to a future of electronic warfare, cyber-warfare and autonomous engagement, as set forth in the UK Integrated Review in spring 2021. The company is also focused on enhanced systems, networks and sensors to gather, manage, analyse and share information and intelligence to predict changing demands and enable better decision making.
The company's continued growth and investment in the UK aligns with the broader strategy of international expansion. L3Harris plans to grow its global business outside the United States from its current 20 per cent figure.
About L3Harris Technologies
L3Harris Technologies is an agile global aerospace and defense technology innovator, delivering end-to-end solutions that meet customers' mission-critical needs. The company provides advanced defense and commercial technologies across air, land, sea, space, and cyber domains. L3Harris has approximately $18 billion in annual revenue and 47,000 employees, with customers in more than 100 countries. L3Harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect managements current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about technologies and capabilities, financial commitments and global business growth are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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LONDON - L3Harris Technologies (NYSE:LHX) marked 100 years of support for the United Kingdom's defence and security needs by signing the Armed Forces Covenant, a significant commitment to members of the armed forces community.
