Ahead of Sequester, Lockheed Locks Down $334 Million F-35 Contract

Funds will pay for parts necessary to build 35 fighter jets for U.S., U.K., and Norwegian militaries.

Rich Smith
Rich Smith
Mar 1, 2013 at 9:45AM
Industrials

Just hours before the government's "sequester" plan went into effect, the Department of Defense announced Thursday that it has awarded Lockheed Martin (NYSE:LMT) a $333.8 million contract related to the F-35 Lightning II fighter jet.

The contract will fund purchase of long lead-time parts, materials, and components required to manufacture 35 "Low-Rate Initial Production Lot VIII" F-35s scheduled to be produced for multiple purchasers:

  • 19 conventional takeoff and landing F-35As for the U.S. Air Force.
  • 6 short takeoff / vertical landing F-35Bs for the U.S. Marine Corps.
  • 4 Carrier Variant F-35Cs for the U.S. Navy.
  • 4 F-35Bs for the British armed forces.
  • 2 F-35As for the Norwegian armed forces.

This contract is set to be completed by February 2014.

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