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 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. 

The article Lockheed Martin Wins 2 C-130J Support Contracts Friday originally appeared on Fool.com.

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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