UK Signs $547M Lockheed Hercules Maintenance Deal

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The U.K. Ministry of Defence has awarded a $547 million contract for maintenance and repair of the country’s Lockheed Martin (NYSE: LMT) -built Hercules fleet, Flightglobal reports.

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According to the report, the contract replaces several short-term awards with one agreement to maintain the entire C-130J/K Hercules fleet through 2015.

Lockheed, Marshall Aviation, Rolls-Royce and Vector Aerospace benefit under the new agreement for maintenance, repair and overhaul work on the fleet, the report notes.

Work for the Hercules fleet and aircraft involved in operations such as in Afghanistan will be completed at Marshall’s Cambridge airport site.

The Bethesda, Md.-based contracting firm Lockheed recently took the top spot for U.S. defense-based contracting revenue in fiscal year 2011.

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