Nasdaq:
Lockheed Martin Corp . LMT recently secured a $524-million modification contract for Patriot Advanced Capability-3 (PAC-3) missiles, under the domestic and foreign military sales program. Per the deal, the company will delivery PAC-3 enhancement missiles, reduction initiative missiles and associate ground support equipment to the United States, Qatar, Saudi Arabia and Romania.
The contract was awarded by the U.S. Army Contracting Command, Redstone Arsenal, Alabama. Operations related to the deal will be carried out in Grand Prairie and Lufkin, TX; Camden, AZ; Chelmsford, MA; Ocala, FL and Huntsville, AL.
Lockheed Martin will utilize fiscal 2016, 2017 and 2018 other procurement (Army) funds to complete the task. Work related to the deal is scheduled to be completed by Jan 31, 2021.
