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Lockheed Wins $489M For Lot Seven F-35 Parts

Lockheed Martin (NYSE: LMT) has won a $489,528,000 contract from the U.S. Navy to deliver F-35 aircraft parts, the Defense Department announced Friday.

Lockheed’s aeronautics company will provide long lead-time parts, materials and components needed for lot seven of low rate initial production F-35 jets.

Included in the order are parts for 24 conventional takeoff and landing planes: 19 for the U.S. Air Force, three for Italy and two for Turkey.

Lockheed will also acquire parts for seven short takeoff vertical landing planes, including six for the U.S. Marine Corps and one for the U.K., and four carrier variant planes for the U.S. Navy.

For the government of Norway, Lockheed will provide long lead-time work to install a drag chute into that country’s conventional takeoff and landing F-35 fleet.

Norway recently finalized a $10 billion purchase of 52 jets.

Work is scheduled to complete by June 2013 and the Naval Air Systems Command in Patuxent River, Md. is the contracting activity for the advance acquisition contract.

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