Lockheed Martin Receives $2.43 Billion Defense Department Award

   By Dave Sebastian 
 

Lockheed Martin Corp. (LMT) and its unit Lockheed Martin Aeronautics Co. on Friday received an award of about $2.43 billion for its F-35 Lightning II Joint Strike Fighter initial spares, the Defense Department said.

The spares would be for use by the U.S. Marine Corps, Navy Air Force, non-Defense Department participants and foreign military sales customers, according to the department.

Among the spares to be procured are packages of global spares, base spares, deployment spares and afloat spares. The spares will be for use at the Naval Air Systems Command in Patuxent River, Md., the department said. It will place the orders by December 2020 and will pay the company on individual delivery orders.

The work associated with the contract will mostly be performed in Fort Worth, Texas, El Segundo, Calif., and Owego, N.Y., the department said. Some of the work will also be done in the U.K. and the Netherlands.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

August 23, 2019 19:53 ET (23:53 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.