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Cytec Wins 750 Million Contract from Lockheed Martin

A Cytec unit has been tapped to supply advanced materials for the production of next-generation stealth fighter planes.Cytec Industries (NYSE: CYT) in West Paterson said today that its advanced materials business unit won a $750 million contract from Lockheed Martin to supply components for the manufacture of next-generation stealth fighter planes.

Under the contract, which runs through 2013, Cytec Engineered Materials (CEM) will provide high-performance composite materials for the production of the F-22A Raptor and the multinational F-35 Joint Strike Fighter (JSF) for the U.S. Airforce.

The F-22A Raptor is designed to replace the F-15 air dominance fighter, while the F-35 JSF, a supersonic, multifunctional fighter, is to supplant the aging AV-8B Harrier, A-10, F-16, F/A-18 Hornet, and (United Kingdom) Harrier GR.7 and Sea Harrier. The Raptor’s debut flight was made last year, while JSF”s first run is planned for this fall.

“Production runs of the F-22A are expected to continue for the remainder of the decade, with JSF expected to stretch at least 10 years beyond that,” said Steve Speak, CEM’s president. The Cytec products to be supplied to Lockheed include materials with performance-enhancing capability at high temperatures; thermoplastics that enhance damage tolerance and impact resistance; a super-tough epoxy resin; and various adhesive materials.

Cytec shares climbed $0.78 to $53.95 in afternoon trading.

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