Sun, 16 May 2021

SyncFab Co. has signed a strategic deal granting Lockheed Martin access to SyncFab's secure supplier intelligence platform, which connects Original Equipment Manufacturers (OEMs) to Swissmem members on SyncFab's platform in order for the OEMs to match with subject matter expert (SME) supplier capabilities across Switzerland.

'SyncFab is honored and privileged to work with Lockheed Martin in our mission to expand access and digitally transform Swiss Industrial Supply Chains in partnership with Swissmem," said SyncFab founder and CEO Jeremy Goodwin.

According to SyncFab, the company offers the first Supply Chain Blockchain® solution for parts suppliers and buyers. SyncFab is partnering with Swissmem, utilizing SyncFab's platform to digitally transform the Swiss Aerospace Supply Chain.

Other top defense suppliers such as Thales, RUAG, and Mercury have joined the SyncFab platform consortium, according to SyncFab. It stated it has also partnered with the U.S.-based National Tooling and Machining Association (NTMA) and their more than 1,400 SME supplier members.

The platform works as a "matchmaker" between OEMs and SMEs, enabling SMEs to compete for long-term supply chain opportunities with large international companies. This platform has already helped mechanical engineering and electronics firms in the U.S. provide products and services to large OEMs, including electronics, aerospace, automobile, medical technology, and renewable energy.

The SyncFab-Swissmem partnership will initially aid Swiss SMEs in supplying for the offset transaction requirements of the Swiss Armed Forces and air defense system. After this initial testbed phase, SyncFab's platform will then be open to the entire Swissmem industry.

Swissmem has been the national representative of the mechanical and electrical engineering industries in Switzerland for over 130 years. Its members combine traditional manufacturing expertise with innovative, future-oriented technologies. Their companies operate in the traditional areas of mechanical engineering and metalworking, electrical engineering and electronics, as well as the precision instruments sector. In addition, they develop new solutions in dynamic technology fields such as sensor technology, photonics, robotics, additive manufacturing or industrial IT.

As publicly recognized by the Swiss Department of Defense, SyncFab has been working together with partner Swissmem in preparation for partnership with more than 1,200 SMEs and the opportunity to supply for the Swiss Armed Forces Project Air2030's offset requirements. These offsets represent 60 and 100 percent of the respective air- and land-based defense investments for the upcoming Swiss Project Air2030.

About SyncFab

SyncFab is a distributed manufacturing platform founded and headquartered near Silicon Valley that streamlines the way OEM hardware supply chain buyers procure, manage, and track precision parts production securely using blockchain technology. Learn more about how SyncFab benefits manufacturers.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin Corporation is a global security and aerospace company that employs approximately 114,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

Media Contact

Robert PeningtonRobert@thronepr.com

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