Nasdaq:
Pentagon’s largest defense contractor, Lockheed Martin Corp.LMT , has clinched a modification contract from the U.S. Army Contracting Command, Redstone Arsenal, AL. The deal is moderation to a previously-awarded foreign military sales (FMS) contract awarded to the company by the same.
Details of the Deal
The contract is valued at $39.2 million. Per the terms, Lockheed Martin will provide post-production support to the PATRIOT Advanced Capability-3 (PAC-3) Missile for 2017. The support service will include recapitalization of enhanced launcher electronic system, field missile activities as well as unscheduled maintenance.
Lockheed Martin will utilize fiscal 2017 other, and operations and maintenance (Army) funds to complete the work by June 25, 2018. The contract includes FMS to Germany, Netherlands, Kuwait, Saudi Arabia, Taiwan, Japan and the United Arab Emirates. Work related to the modification deal will be carried out in Grand Prairie, TX…
