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Lockheed Gets $431M Contract Modification for Lot 9 F-35 Special Tools, Equipment

lockheed martinLockheed Martin (NYSE: LMT) has received a $431.3 million contract modification to collect special tooling and test equipment for F-35 fighter planes that are being acquired by U.S. and international defense customers.

The Defense Department said Tuesday that Lockheed’s aeronautics business will obtain the non-recurring items for the company to meet the program’s Lot 9 production goals.

Work will occur at various locations in the U.S. and overseas through December 2018.

The U.S. Navy‘s Naval Air Systems Command is the contracting activity and will obligate the full amount from the U.S. military’s fiscal 2015 aircraft procurement, non-DoD participant and foreign military sales funds.

DoD said contract funds will not expire at the end of fiscal 2015.

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