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Lockheed to Sell $308 Million in Tactical Missiles to Kuwait

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The Department of Defense awarded 20 separate contracts Tuesday, worth a combined $1.2 billion. Of these, the single largest award -- for a whopping $308.3 million, or 25% of the total -- went to Lockheed Martin (NYSE: LMT  ) . Not satisfied with that, though, Lockheed then went on to claim three more awards:

  • $37.4 million: in the form of a modified cost-plus-fixed-fee foreign military sales contract to support cost reductions at the enhanced launcher electronic station servicing Patriot air defense missile systems in the United Arab Emirates.
  • $35.7 million: modifying a cost-plus-fixed-fee contract to provide information technology services to the Pentagon and National Capital Region.
  • $35.6 million: modifying a cost-plus-fixed-fee contract related to updating the fire control system on the Lockheed M270A1 Multiple Launch Rocket System.

As for the day's headlining contract -- the $308.3 million award -- that one is a foreign military contract to continue supplying unspecified "tactical missiles" and launcher modification kits to the government of Kuwait. The DOD says today's contract pushes the total value of the underlying award past $1.06 billion.

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8/31/2016 4:03 PM
LMT $242.97 Up +3.52 +1.47%
Lockheed Martin CAPS Rating: ****