Lockheed Wins $47.8 Million C-130J Upgrades Contract

Lockheed Martin (NYSE: LMT  ) has won a new contract "modification" from the U.S. Air Force, and one that lifts the cumulative value of its C-130J Joint Country Cooperative Effort, or JCCE, contract past $1.7 billion.

On Tuesday, the U.S. Department of Defense awarded the $47.8 million contract modification to Lockheed Martin, providing funds for Lockheed to make "Block 7.0" upgrades to C-130J transport planes in use by the militaries of multiple countries around the world. In all, the Pentagon says this foreign military sales contract will pay for 35 embodiment/retrofit kits for countries participating in the JCCE, "selected hardware" for four kits for Norway, plus spare parts for C-130Js owned by Italy, Australia, Norway, and Denmark.

Further details were not provided in the Pentagon's contract announcement, but JCCE appears to be a system set up some years ago, for coordinating worldwide upgrades to C-130Js in service in nations including not just those listed above, but also India, Iraq, and Israel.

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9/30/2016 4:03 PM
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Lockheed Martin CAPS Rating: ****