L3Harris (NYSE:LHX) is accelerating more than $100M in payments to its small-business suppliers - a move designed to shore up an important part of the business and allow continued investment by suppliers in strategic growth.
The company is making accelerated payments to businesses in 45 states that provide a wide range of product and services in support of the company's mission to supply the Defense Dept., U.S. agencies and allies.
“The accelerated payment will also allow us to continue to invest in our strategic growth plan, with our move to a new 52,000-square-foot facility, in support of the pending F-35 full-rate production schedule," says Evan Cramer of supplier Custom Aerospace Machine.
