Lockheed Wins $44.2 Million in Pentagon Contracts
Mar 11th 2013 5:51PM
Updated Mar 11th 2013 6:25PM
The Department of Defense announced Friday that it has awarded a trio of contracts to Lockheed Martin , worth more than $44 million in aggregate.
Of the three, the largest award was a $28.3 million firm-fixed-price Foreign Military Sales contract to upgrade firing ranges for the Saudi Arabia National Guard, part of the country's live-fire range modernization project. Work on the project should be completed by Dec. 31, 2014.
Lockheed's Systems and Training division won a $9.3 million contract modification award to perform "technical engineering, logistics, configuration management, quality assurance, operation, and maintenance" work on Aegis missile defense program sites located in Moorestown, N.J. This award also covers "associated materials" required to execute Foreign Military Sales to Japan, Spain, Norway, South Korea, and Australia. Work will be performed at the Moorestown location and is expected to be complete next month.
Finally, Lockheed's Missiles and Fire Control division won a $6.6 million firm-fixed-price contract for work on the Modernized Target Acquisition Designation Sight / Pilot Night Vision Sensor. This contract has a Feb. 28, 2014, completion date.
The article Lockheed Wins $44.2 Million in Pentagon Contracts originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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