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Lockheed Wins $258M for Air Force, Navy F-35 Jets

Lockheed Martin Corp. (NYSE: LMT) has won a $258.8 million U.S. Navy contract modification to produce two additional F-35 fighter jets.

The Defense Department said this award adding one takeoff and landing aircraft for the Air Force and one carrier variant aircraft for the Navy.

The modification covers nondefinitized items that will be converted to fixed-price-incentive-firm line items.

Sixty percent of the work will occur in Fort Worth, Texas, and El Segundo, Calif.

The Pentagon expects work to finish by February 2014 and he Naval Air Systems Command in Patuxent River, Md. is the contracting activity.

The Bethesda, Md.-based contractor won an estimated $95 million in awards in March to provide long lead materials and help meet th requirements schedules for F-35 work.

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