Lockheed Awarded $142M FMS Contract for Greece P-3B Aircraft Upgrade Services

lockheed martinLockheed Martin (NYSE: LMT) has received a three-year, $141.9 million foreign military sales contract from the U.S. Navy to perform reactivation and modernization work on P-3B maritime patrol aircraft for Greece.

The Defense Department said Thursday that Lockheed’s aeronautics segment will restore one P-3B and obtain hardware kits needed to overhaul an additional four P-3Bs of the Greek military.

The company will also provide avionics, an indigenous mission integration and management system, ancillary equipment and phased depot maintenance services under the FMS contract.

Work will occur through July 2019 in Greece and at various U.S.-based company facilities in Georgia, Maryland and South Carolina.

Greece previously requested P-3B overhaul and upgrade services in 2014 under a $500 million contract.

Check Also

DFT

Digital Force Technologies to Become Platform Company of DC Capital Partners

Digital Force Technologies has signed a strategic partnership with DC Capital Partners, allowing the private equity investment firm to run DFT as a platform company within its portfolio of businesses.

F-35

Lockheed Gets $710M Contract Modification for F-35 Production Materials

Lockheed Martin (NYSE: LMT) has been awarded a $709.8M contract modification by Naval Air Systems Command to obtain materials needed for the low-rate initial production of additional F-35 jets for U.S. and foreign military sales customers. The modification funds material purchases for lot 15 through lot 17 aircraft of the U.S. Air Force, Navy and Marine Corps as well as FMS and non-Department of Defense participants, DoD said Monday.