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Lockheed Wins $253 Million in Saudi F-15 Work

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January 2, 2013 | Comments (0)

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On Tuesday, the U.S. Department of Defense announced it has awarded Lockheed Martin (NYSE: LMT  ) a $253.4 million firm-fixed-price contract to modernize F-15SA fighter jets for Saudi Arabia.

The fighters in question are part of a previously announced contract whereby the kingdom ordered 84 new F-15SA fighters from Boeing (NYSE: BA  ) , which builds the plane, and contracted Boeing to furthermore upgrade 70 of its existing F-15Ss to the F-15SA configuration.

Lockheed Martin's part in the program is expected to be complete by June 2020.

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Fool contributor Rich Smith has no positions in the stocks mentioned above. 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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5/22/2013 9:50 AM
LMT $107.04 Up +0.05 +0.05%
Lockheed Martin Co… CAPS Rating: ****
BA $98.96 Up +0.21 +0.21%
The Boeing Company CAPS Rating: ***

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