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|Standex Division Receives Prestigious Lockheed Martin Star Supplier Award; Spincraft joins select group of strategic alliance members|
SALEM, N.H., Nov 28, 2005 (BUSINESS WIRE) -- Standex International Corporation (NYSE:SXI) today announced that Spincraft, its metal spinning and custom fabricated components division, has been awarded the STAR Supplier Award by Lockheed Martin. The award recognizes Spincraft's achievements in meeting some of the most stringent performance criteria in the aerospace industry.
"Spincraft joins an elite group of companies in receiving this award," said Scott Arnold, Director ATACMS Program, Lockheed Martin Missile and Fire Control Division. "Lockheed Martin is committed to building a strong supplier base to provide the best value to meet the needs of our customers. We consider our company fortunate to have Spincraft as a Lockheed Martin business partner."
The dual goal of the STAR Supplier Program, which was introduced in 1999, is to develop strong supply chain relationships and enable Lockheed Martin to recognize top performing suppliers. Lockheed Martin's STAR Supplier Performance criteria include quality, on-time delivery, cost reduction, technical competency and responsiveness. Spincraft achieved outstanding performance rankings for all products provided to Lockheed Martin during the past three years.
In accepting the award during a ceremony at Spincraft's facility in New Berlin, Wisconsin, Spincraft President Rick Paul commented, "The STAR Award exemplifies supplier excellence, and demonstrates Spincraft's success in providing high-caliber products in a timely and profitable manner to all its customers. Through our collaboration with Lockheed Martin Missile Defense programs during the past 15 years, we have supplied cost-effective alternative solutions for key structural missile components in support of Lockheed Martin's ongoing commitment of excellence to their customers."
"The STAR Award recognition attests to the high-quality products, superior service and effective operations management that have long been in place not only at Spincraft but across all of Standex's divisions," said Standex President and CEO Roger Fix. "Spincraft's proven excellence in these areas makes them a strategic partner worthy of Lockheed Martin's trust and business."
Spincraft is a key fabrication supplier to the aerospace, aviation, defense and energy industries. Utilizing a compliment of comprehensive forming and assembly processes, Spincraft delivers integrated, single-source manufacturing solutions for complex fabrications and assemblies of every scope. The company offers world-class capabilities for metal spin forming, heat-treating, machining and press forming for virtually all workable metal alloys. Spincraft components and assemblies can be found in today's most advanced space launch vehicles, commercial and military aircraft, nuclear submarines and land-based gas turbines. For more information visit the company's website at www.spincraft.net.
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Air Distribution Products Group, Engineered Products Group, Consumer Products Group and Engraving Group and with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For additional information, visit the company's website at www.standex.com.
SOURCE: Standex International Corporation
Standex International Corporation