Of 19 contracts -- and $2.8 billion -- awarded by the Defense Department Tuesday, some companies made out better than others. Lockheed Martin (NYSE:LMT), the biggest defense contractor on the globe, was one of the biggest winners Tuesday, snagging a huge $830 million modification to a foreign military sales contract, instructing it to produce and sell to Iraq 18 F-16 fighter jets for the local air force.
Support equipment, technical orders, integrated logistics support, contractor logistics support, and an electronic warfare system will all be part and parcel of the planes purchase, and Lockheed will work fast on this one. The anticipated date for delivery of the aircraft is April 30, 2014.
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