The Department of Defense announced $4.92 billion worth of new defense contracts Tuesday. Lockheed Martin (NYSE:LMT), the nation's biggest pure-play defense contractor, won two of the eight contracts awarded:
- a modification to an existing foreign military sales contract to purchase a single Super Hercules C-130J transport aircraft, to fund long-lead procurement of parts needed to build an additional two C-130Js, and to supply an unspecified number of external fuel tank modification kits. All of the above purchases are destined for the Israeli military, and their total value is not to exceed $81.2 million. Delivery is due June 30, 2016.
- a separate contract modification relating to C-130J purchases for the U.S. Air Force. This one is worth $48.5 million, and funds long-lead purchases of parts needed to build five additional C-130J aircraft. This contract will run through Dec. 31, 2016.
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