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Tag: Lockheed

Lockheed Martin awarded $117.1M contract for F-35 parts

Lockheed Martin awarded $117.1M contract for F-35 parts

Business
April 24 (UPI) -- Lockheed Martin has received a $ 117.1 million contract modification for a variety of spares for the F-35 fighter planes of the U.S. Air Force and Marines. The deal, announced Tuesday by the Defense Department, covers air vehicle initial spares, including a deployment spares package, afloat spares package, and associated consumables to support air vehicle delivery schedules. Most of the work will be conducted at Lockheed's Fort Worth, Texas, facility, with the rest performed at locations across the United States and United Kingdom. Work is expected to be finished by August 2023. The new contract comes after the company last week announced that it negotiated new long-term logistics and repair contracts with F-35 Lightning II Joint Strike Fighter aircraft suppliers, based...
Lockheed signs long-term contracts with supplier for lower costs, better availability

Lockheed signs long-term contracts with supplier for lower costs, better availability

Business
April 19 (UPI) -- Lockheed has moved sub-contractors into performance-based logistics contracts or master repair agreements to improve capacity, reduce costs and enhance supply availability, the company announced this week. "As the F-35 fleet expands, we are partnering with our customers and taking aggressive actions to enhance F-35 readiness and reduce sustainment costs," Greg Ulmer, Lockheed Martin vice president and general manager of the F-35 program, said in a news release Wednesday. "The F-35 global supply chain is a key enabler to success, and we're restructuring and streamlining several contracts with key industry partners to provide the long-term stability that will allow them to make investments, improve efficiencies and optimize their performance." The performance-based logist...
Lockheed awarded $506.9M contract for PAC-3 missiles

Lockheed awarded $506.9M contract for PAC-3 missiles

Business
March 15 (UPI) -- The U.S. Army awarded Lockheed Martin a $ 506.9 million contract to build the Patriot Advanced Capability-3 missiles. The contract is for incidental services, hardware, facilities, equipment, as well as all technical, planning, management, manufacturing and testing efforts to produce the Patriot, which is an acronym for the Phased Array Tracking Radar to Intercept on Target, the Department of Defense announced Thursday. Work will be performed at Lockheed's plant in Grand Prairie, Texas, with an estimated completion date of Dec. 31, 2024. Army fiscal 2019 other procurement funds in the full amount were obligated at the time of the award. Patriots defend against incoming threats, including tactical ballistic missiles, cruise missiles and aircraft. The PAC-3 missiles first...
Lockheed awarded $3.3B for PAC-3 missiles for Saudi Arabia, Kuwait

Lockheed awarded $3.3B for PAC-3 missiles for Saudi Arabia, Kuwait

Business
Dec. 24 (UPI) -- Lockheed Martin has been awarded a contract for Phased Array Tracking Radar to Intercept on Target Advanced Capability-3, or Patriot PAC-3, missiles for Saudi Arabia and Kuwait. The contract, announced Friday by the Department of Defense, is worth a total of $ 3.3 billion for production of the missiles, with associated ground support equipment and initial spares of both PAC-3 missiles and PAC-3 Missile Segment Enhancement interceptors. Production on the contract will occur in Alabama, Arkansas, Florida, Massachusetts and Texas, with the company being obligated $ 1.8 billion from fiscal 2019 other procurement Army funds. "PAC-3 and PAC-3 MSE give our customers unmatched, combat-proven hit-to-kill technology to address growing and evolving threats," Jay Pitman, vice preside...
Lockheed named preferred bidder for Canadian navy bid

Lockheed named preferred bidder for Canadian navy bid

Business
Oct. 19 (UPI) -- Lockheed Martin Canada could be the next company to shape up Canada's shipyard after winning a competition to design the next fleet of Royal Canadian Navy ships. A team of contractors led by Lockheed was announced Friday as the preferred bidder after presenting a BAE Type 26 design to the government of Canada and Irving Shipbuilders Inc. Now the team is one step closer to taking home a contract worth $ 60 billion. The next step in the bidding process will take place over the early months of 2019, when the Canadian government will examine the winning bidder's financial solvency and design proposal. During that time, Lockheed will go through the "due diligence" process, which includes negotiations with the company on intellectual property rights, an assessment of combat sys...