Lockheed Martin to Perform Work on USAF Super Galaxies, Navy F-35s
The Department of Defense issued 17 new contracts Thursday, worth roughly $413.4 million in aggregate. Most of the contracts went to privately held construction firms, but a few publicly traded firms also benefited. Lockheed Martin , for example, won two contracts on the day.
The larger of the two awards, for $21.3 million, modifies a previously awarded contract to enhance and re-engine C-5M Super Galaxy military transport planes for the U.S. Air Force. The funds will be used to pay for the production of one aircraft maintenance system training system, and one flight control system trainer, both for Travis Air Force Base. Work on this contract should be completed by Aug. 31, 2016.
Lockheed's smaller contract, for an even $10 million, modifies a previously awarded Low Rate Initial Production Lot 6 advance acquisition contract for the production of F-35 Lightning II fighter jets for the U.S. Navy. It funds the purchase of consumable parts needed to make repairs on the planes at U.S. government depots, and at original equipment manufacturers. This contract runs through October 2014.
The article Lockheed Martin to Perform Work on USAF Super Galaxies, Navy F-35s 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 may not 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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