Wesco Extends Lockheed Contract

Wesco Aircraft Holdings Inc., a Valencia aerospace supply chain management company, has renewed a multi-year chemical management services contract with aerospace and defense company Lockheed Martin. Under the terms of the agreement, Wesco – which employs more than 2,700 workers and reported sales of $1.5 billion in 2016 – will continue supplying and managing chemicals used by Lockheed’s aeronautics, missile fire control, rotary and mission systems and space systems divisions. Wesco also will provide chemicals to U.S. military bases around the world as part of Lockheed’s F-35 program, in addition to performing integrated supply chain services under separate long-term agreements, Wesco said. “We’re pleased to build on our more than 25-year relationship with Lockheed Martin,” Dave Castagnola, chief executive of Wesco, said in a prepared statement. “This renewed agreement reflects the full value proposition that Wesco is able to deliver to its customers.” Shares of Wesco stock (WAIR) fell 30 cents, or 2.6 percent, on Tuesday to close at $11.40 on the New York Stock Exchange.