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

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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

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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...

Marillyn Hewson: Lockheed Extends Dividend Increases as Repurchase Program Continues

Marillyn Hewson
Marillyn Hewson Lockheed Martin (NYSE: LMT) will move forward on its share repurchase program after the board of directors approved to buy back an additional $2 billion of the company’s common stock. The company also said Thursday its dividend for its fiscal year 2014 fourth quarter will increase 13 percent from the previous quarter $1.50 and is payable on Dec. 26 to shareholders of record...

South Korea to Buy 40 Lockheed F-35 Jets for $7B, Acquire Jet Production Tech

F-35
South Korea will acquire 40 Lockheed Martin (NYSE: LMT) F-35A aircraft and receive fighter jet production technologies from the company under a $7.04 billion deal with the U.S. government, the Yonhap News Agency reported Wednesday. The new planes will replace the country’s old fleet of F-4 and F-5 jets and the F-35s will cost around $115.3 million per aircraft, the report said. The U.S....

Army Taps Six Vendors for $250M Automated Test Systems Support IDIQ

Contract
The U.S. Army has awarded positions on a six-year, $249.9 million contract to six companies for engineering support services to the branch’s armament research, development and engineering center. Awardees will compete for task orders to perform work under the multiple award, indefinite-delivery/indefinite-quantity, firm-fixed-price contract, the Defense Department said Tuesday. The Army Contracting...

Lockheed Receives New Navy Order for Electronic Warfare Upgrades; Joe Ottaviano Comments

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Lockheed Martin (NYSE: LMT) has won a $147 million contract to upgrade the electronic warfare systems of U.S. Navy warships such as destroyers, aircraft carriers and cruisers under Block 2 of the Surface Electronic Warfare Improvement Program. This initial production contract, wherein the Navy has ordered 14 systems for its fleet as upgrade to the AN/SLQ-32(V)2 system, is a follow-on to a 2013...