Lockheed Will Support Nascent Iraqi Air Force

Ending the week in a flurry of paperwork, the U.S. Department of Defense announced 14 separate contract awards Friday -- worth approximately $1.34 billion in total. One single contractor took three of these contracts all for itself: Lockheed Martin (NYSE: LMT  ) .

Lockheed's first and biggest contract of the day, a $44 million foreign military sales contract modification, calls upon the company to provide logistics support "post normalization" for six Iraqi aircraft based at the New al-Muthana Air Base just west of Baghdad. The type or types of aircraft being serviced were not disclosed. This contract will run through June 30, 2015.

Lockheed's second contract concerns the Patriot Advanced Capability-3, or PAC-3, missile. Lockheed has been awarded a $20.5 million cost-plus-incentive fee, no option, non-multi-year contract to perform "simplified inertial measurement obsolescence redesign" on PAC-3s for the U.S. Army.

Finally, Lockheed won a $14.4 million cost-plus-fixed-fee contract to enhance net-centric access to space situational awareness data at the U.S. Air Force Space and Missile Systems Center's Joint Space Operational Center by Sept. 8, 2015.

Thus, Lockheed's contract winnings for the day totaled just under $79 million.


Read/Post Comments (1) | 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.

  • Report this Comment On August 24, 2013, at 11:40 AM, Walterbag wrote:

    Lockheed will spread more DEATH for MONEY !!!

    Eisenhower WARNED of the Military/Industrial Complex. Take the PROFIT out of war, these pukes are ENEMIES of America.

Add your comment.

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: 2608366, ~/Articles/ArticleHandler.aspx, 11/27/2014 10:04:48 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...


Advertisement