Report: DoD, Lockheed Forge $4B Deal on 8th F-35 Production Batch

F-35
Lockheed Martin (NYSE: LMT) and the U.S. Defense Department have struck a $4 billion agreement for the company to build 43 additional F-35 jets, Reuters reported Thursday. Andrea Shalal writes the agreement for the F-35 program’s eighth batch seeks to lower the fighter’s cost by as much as 3 percent and to provide F-35s for U.S. partner nations. Twenty-seven planes would go to the U.S....

October 24 Morning Report: GovCon Index Up at Market Close

GovConIndex
The GovCon Index closed up at 65.734 on Thursday, a change of 1.150 point or 1.719 percent from the previous day.       Top Percentage Gainers Company Stock Price % Change Navistar 34.70 4.96% Textron 38.16 4.26% Northrop Grumman 129.20 3.27% General Dynamics 130.34 3.19% Honeywell 93.58 2.65% Lockheed Martin 180.67 2.65% Market Summary Advancing Issues 26 (86.67%) Declining...

October 23 Morning Report: GovCon Index Down at Market Close

GovConIndex
The 30-company GovCon Index closed at 64.584 on Wednesday, down by 0.270 point or 0.419 percent from the previous day. The Standard & Poors 500 index dropped 0.7 percent to 1927 points, the Nasdaq composite index registered an 0.8 percent fall to 4383 and the Dow Jones industrial average inched down 0.9 percent to 16,461 as markets reacted to news of falling oil prices and a shooting in...

Qatar Taps Lockheed PAC-3 Missiles; Scott Arnold Comments

lockheed martin
Qatar will purchase the Lockheed Martin (NYSE: LMT) PAC-3 Missile and associated command launch system for the country’s air force under an initial contract. The company said Wednesday that Qatar is its eighth international customer for the PAC-3 missile system. PAC-3 works to provide “hit-to-kill” capability, said Scott Arnold, vice president of PAC-3 programs at Lockheed’s...

Lockheed to Produce Targeting, Pilotage Systems for Qatar; Mike Taylor Comments

lockheed martin
Lockheed Martin (NYSE: LMT) will supply Qatar’s air force with Modernized Target Acquisition Designation Sight/Pilot Night Vision Sensor systems under a $90.6 million foreign military sale through the U.S. Army‘s Lot 9 contract. The company said Monday it will provide M-TADS/PNVS systems and spares for Qatar’s AH-64E Apache helicopters to help bolster nighttime pilotage and targeting...

Greg Psihas Appointed Lockheed Corporate Development VP

lockheed martin
Greg Psihas, former corporate vice president of mergers and acquisitions at Applied Materials, will join Lockheed Martin (NYSE: LMT) as VP of corporate development on Oct. 27. The company said Tuesday Psihas will manage mergers and acquisitions, integration, joint and strategic ventures, divestitures, technology commercialization and fund investments. He has overseen merger and acquisition...

State Dept OKs US’ $500M Lockheed P-3B Aircraft Overhaul Agreement With Greece

lockheed martin
Greece has agreed to purchase $500 million in overhaul and upgrade services from the U.S. government under a foreign military sales agreement, which Lockheed Martin Aeronautics Co. is the prime contractor for. The deal covers work to modify two Lockheed P-3B aircraft and upgrade five P-3B aircraft, the Defense Security Cooperation Agency said Tuesday. Greece’s navy wants the upgrade work...

Tim Glaeser: Raytheon Expects US, Qatar to Close Patriot System Deal By 2014’s End

PatriotMissile
Tim Glaeser, a vice president at Raytheon (NYSE: RTN), expects the governments of U.S. and Qatar to reach an agreement by the end of the year for Qatar to purchase a Patriot missile defense system from the U.S. through a foreign military sales agreement, Reuters reported Tuesday. Glaeser, vice president of Raytheon’s integrated defense systems business, told Reuters’ Andrea Shalal that...

Raytheon to Produce 3D Long-Range Radars for Air Force

U.S. Air Force image
U.S. Air Force image Raytheon (NYSE: RTN) has won a potential $71.8 million contract to engineer, manufacture and develop the U.S. Air Force‘s three-dimensional expeditionary long-range radar systems. The 3DELRR EMD contract has a $19,502,764 base value and calls for the company to deliver up to six radar platforms, as well as product support to the military branch, the Defense Department said...

Saudi Arabia Plans $2B Patriot Missile Purchase; Lockheed, Raytheon Prime Contractors

PatriotMissile
The State Department has approved Saudi Arabia’s request to purchase a Patriot Air Defense System from the U.S. government under a potential $1.75 billion foreign military sales agreement. The system consists of a set of Patriot Advanced Capability-3 missiles and associated parts and equipment, as well as personnel training and logistics and technical support, the Defense Security Cooperation...