Lockheed Awarded $662M Transport Aircraft Contract Modification

lockheed martinLockheed Martin (NYSE: LMT) has received a $662, 032, 335 contract modification from the U.S. Air Force to build 10 transport planes and 20 quick engine change kits.

The award covers the production of four HC-130J, three KC-130J, two MC-130J and one C-130J aircraft, the Defense Department said Wednesday.

The C-130J airlifter family is designed to perform military cargo and personnel transport, search and rescue, and aerial and ground refueling operations.

Lockheed will perform work in Marietta, Georgia, and is scheduled to finish by Jan. 31, 2018.

The Air Force is obligating $401, 279, 159 in procurement and foreign military sales funds at the time of award.

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