Lockheed Wins $830M for 20 Iraq F-16 Jets

LockheedLogoLockheed Martin (NYSE: LMT) has won an $830 million U.S. Air Force contract modification to produce 16 F-16 fighter jets, supporting a foreign military sales agreement with Iraq.

The Air Force is obligating $406.7 million for this firm-fixed-price, cost-plus-fixed-fee award, the Defense Department said Tuesday.

Lockheed will also provide related support equipment, technical orders, integrated logistics support, contractor logistics support and an electronic warfare system for the jets.

Work will occur in Fort Worth, Texas through April 30, 2014, according to the Pentagon.

This award comes nearly five months after the Pentagon announced another $563 million contract to Lockheed for 20 F-16s, which the Air Force also intends to support a foreign military sales agreement.

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