Nu
Horizons Electronics Corp. Awarded Prestigious Lockheed
Martin STAR Supplier-Facility Award
Designation
Granted to Nu Horizons as First Electronic Component Distributor
to Achieve Supplier Excellence in Meeting Strict Aerospace
Industry Performance Criteria
Melville,
New York - November 19, 2003 - Nu Horizons Electronics
Corp. (NASDAQ:NUHC), a leading distributor of high technology
active components, announced today that Lockheed Martin
Corporation (NYSE: LMT) awarded the Company with their
STAR Supplier-Facility Award at Nu Horizons' corporate
headquarters. Designed to recognize supplier excellence,
the highly coveted and exemplary STAR award is granted
to a limited number of Lockheed Martin top-performing
suppliers who distinguish themselves by meeting some of
the most strict performance criteria within the aerospace
industry. Nu Horizons Electronics Corp. is the first electronic
component distributor to earn this award- winning status.
Lockheed
Martin introduced the STAR Supplier Program award in 1999
with the dual objectives of developing stronger supply
chain relationships and providing a recognition means
for their top-performing suppliers. To join Lockheed's
elite group of STAR suppliers, Nu Horizons achieved 100%
quality and 100% delivery for all product quality and
delivery objectives over the course of a minimum of one
year. Additionally, the Company met the established criteria
for Lockheed Martin's Supplier Performance Evaluation
metric within four categories comprised of quality, delivery,
affordability and management/administration.
"Lockheed
Martin is very appreciative of the efforts Nu Horizons
has made to provide all Lockheed companies with high quality
products, delivered on schedule, at a reasonable cost,"
said Thomas A. Plungis, Director of Subcontract and Supply
Chain Management for Lockheed Martin. "We recognize
that performance is one of the keys to their success and
we consider our company fortunate to have Nu Horizons
as a Lockheed Martin business partner."
Arthur
Nadata, president and chief executive officer for Nu Horizons,
adds "Nu Horizons is honored to receive the STAR
award from Lockheed Martin. The STAR award exemplifies
supplier excellence, and through the steadfast efforts
of our field and management teams we are very proud to
meet Lockheed's strict quality and delivery requirements
to achieve this prestigious designation."
Nu
Horizons Electronics Corp. joins an elite group of STAR
Supplier Award members which include Hewlett-Packard,
Goodyear Tire & Rubber Company and Cypress Semiconductor.
All Lockheed Martin STAR Suppliers are provided with increased
visibility across the Lockheed Martin Corporation. This
exposure results in increased opportunity for business
and consideration for reduced oversight at the supplier
level. Lockheed Martin and its customers likewise share
benefits in higher supplier product quality, improved
delivery performance and associated cost savings.
About
Lockheed Martin Corporation
Headquartered in Bethesda, MD, Lockheed Martin employs
about 125,000 people worldwide and is principally engaged
in the research, design, development, manufacture and
integration of advanced technology systems, products and
services. The corporation reported 2002 sales of $26.6
billion.
About
Nu Horizons Electronics Corp.
Nu Horizons is a leading distributor of high technology
active components, including analog, communications, discretes,
optical, logic & peripherals, memory, microcontrollers,
system on chip (SOC), board level and computer system
products to a wide variety of commercial original equipment
manufacturers (OEMs). With sales facilities in thirty-three
locations across North America and Asia, and logistics
centers in centralized locations throughout the globe,
Nu Horizons partners with a limited number of best-in-class
suppliers to provide in-depth product and solutions expertise
to its customers. Information on Nu Horizons and its services
is available at http://www.nuhorizons.com.
Except
for historical information contained herein, the matters
set forth in this news release are forward looking statements
that involve certain risks and uncertainties that could
cause actual results to differ from those in the forward-looking
statements. Potential risks and uncertainties include
such factors as the level of business and consumer spending
for electronic products, the amount of sales of the Company's
products, the competitive environment within the electronic
component industry, the ability of the Company to continue
to expand its operations, the level of costs incurred
in connection with the Company's expansion efforts and
the financial strength of the Company's customers and
suppliers. Investors are also directed to consider other
risks and uncertainties discussed in documents filed by
the Company with the Securities and Exchange Commission.
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