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L3Harris Pledges to Accelerate $100M in Supplier Payments; William Brown Quoted

l3harris-pledges-to-accelerate-100m-in-supplier-payments-william-brown-quoted
William Brown
William Brown

L3Harris Technologies has begun expediting the payment of over $100M to small businesses in the company's supply chain in light of the ongoing health crisis.

L3Harris said Thursday it is also providing $2M in funding and resources for COVID-19 relief efforts around the world, with focus on areas where the company has a “significant presence.“

Evan Cramer, CEO of Melbourne, Fla.-based L3Harris supplier Custom Aerospace Machine, said the accelerated payment will enable the firm to push through with plans to establish a new facility to support F-35 production activities.

“Accelerating payments reflects our commitment to support small businesses, the aerospace and defense supply chain, and the vital U.S. defense industrial base,“ said William Brown, chairman and CEO of L3Harris and a former Wash100 Award recipient. “We are proud to help these businesses and their regional economies, particularly during this difficult economic period.“

The recent announcement builds on L3Harris' other COVID-19 response efforts including the supply of masks and protective equipment as well as grants for impacted employees, the company said.

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