Lockheed Will Support Nascent Iraqi Air Force
Ending the week in a flurry of paperwork, the U.S. Department of Defense announced 14 separate contract awards Friday -- worth approximately $1.34 billion in total. One single contractor took three of these contracts all for itself: Lockheed Martin .
Lockheed's first and biggest contract of the day, a $44 million foreign military sales contract modification, calls upon the company to provide logistics support "post normalization" for six Iraqi aircraft based at the New al-Muthana Air Base just west of Baghdad. The type or types of aircraft being serviced were not disclosed. This contract will run through June 30, 2015.
Lockheed's second contract concerns the Patriot Advanced Capability-3, or PAC-3, missile. Lockheed has been awarded a $20.5 million cost-plus-incentive fee, no option, non-multi-year contract to perform "simplified inertial measurement obsolescence redesign" on PAC-3s for the U.S. Army.
Finally, Lockheed won a $14.4 million cost-plus-fixed-fee contract to enhance net-centric access to space situational awareness data at the U.S. Air Force Space and Missile Systems Center's Joint Space Operational Center by Sept. 8, 2015.
Thus, Lockheed's contract winnings for the day totaled just under $79 million.
The article Lockheed Will Support Nascent Iraqi Air Force originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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