Congress Asked to Approve $250 Million Arms Sale to Greece

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

The Defense Security Cooperation Agency notified Congress [link opens in PDF] Thursday of plans to sell the Greek military $250 million worth of spare parts for use in repairing and maintaining United Technologies (NYSE: UTX  ) F100-PW-229 engines. The parts to be sold include inlet/fan modules, core engine modules, rear compressor drive turbines, fan drive turbine modules, augmentor duct and nozzle modules, and gearbox modules. The sale will include support equipment, publications, and technical documentation necessary to make use of them.

DSCA explains that the spare parts are needed to "ensure the Hellenic Air Force sustains its aircraft fleet" of Lockheed Martin (NYSE: LMT  ) F-16 fighter jets "at the highest state of readiness to face any potential threats." In this way, the sale "will contribute to the foreign policy and national security of the United States by helping to improve the security of a NATO ally."

DSCA added that "there will be no adverse impact on U.S. defense readiness as a result of this proposed sale."

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2533316, ~/Articles/ArticleHandler.aspx, 5/6/2016 6:38:23 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Rich Smith

I like 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.

Today's Market

updated Moments ago Sponsored by:
DOW 17,740.63 79.92 0.45%
S&P 500 2,057.14 6.51 0.32%
NASD 4,736.16 19.06 0.40%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

5/6/2016 4:04 PM
LMT $240.26 Up +2.12 +0.89%
Lockheed Martin Co… CAPS Rating: ****
UTX $101.12 Up +0.83 +0.83%
United Technologie… CAPS Rating: ****