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Lockheed Martin Wins 2 C-130J Support Contracts Friday

The Department of Defense awarded 18 defense contracts Friday, worth $491.7 million in total. Lockheed Martin (NYSE: LMT  ) won two of them:

  • A $105.3 million option exercise to continue providing logistical, program management, and engineering support for U.S. Air Force C-130J Super Hercules transport planes under the C-130J Long-Term Sustainment Program for an additional year. This contract will now run through Jan. 31, 2016.
  • A $48.9 million "ceiling requirements" contract, also for the C-130J under the same C-130J Long-Term Sustainment Support program -- but this time for planes operated by the Royal Norwegian Air Force. Lockheed will provide the Norwegians four C-130J aircraft with return and repair support and spare parts, in addition to doing engineering and other work on the planes. This foreign military contract will continue in force through Nov. 30, 2018. 

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Rich Smith
TMFDitty

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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6/30/2015 4:04 PM
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