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Lockheed Martin Wins $365M Deal For Its Missile Programs

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Lockheed Martin Corp.'s (NYSE: LMT) Missile and Fire Control business division recently won a $364.6 million contract for Army Tactical Guided Missile and Launching Assembly Service Life Extension program. The deal was awarded under the domestic and foreign military sales program.

Details of the Deal

The contract was awarded by the U.S. Army Contracting Command, Redstone Arsenal, AL. Per the terms, the company will deliver the missiles and extension programs to the Romanian Army.

Work related to the deal will be performed in Dallas, TX; Boulder, CO; Clearwater, FL; Cincinnati, OH and various other locations across the United States. The tasks are expected to get completed in Mar 26, 2020. Lockheed Martin will utilize fiscal 2017 and 2018 research, development, test and evaluation; foreign military sales; overseas contingency operation and aircraft procurement (Army) funds for completing the task.

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The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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