Lockheed Wins $253 Million in Saudi F-15 Work

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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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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/30/2015 4:00 PM
BA $145.45 Down -1.50 -1.02%
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