Lockheed Martin (NYSE: LMT) picked up a second two-year option to continue work on the Air Force Industrial Product-Support Vendor contract.
The option carries a value of $176 million.
The deal supports ” total supply chain consumables for production depot maintenance activities at the three USAF Air Logistics Centers.”
“We are pleased the Air Force has opted to exercise this second contract option, highlighting the confidence and trust that our customers place in our abilities to support their weapons systems, ” said Lisa Mahlmann, vice president of Lockheed Martin Aeronautics Global Sustainment. “We look forward to continuing this partnership by maintaining critical spare parts and consumables to keep the warfighter mission-ready.”