Lockheed Martin Receives $1.5B Air Force C-130J Contract Modification

lockheed martinLockheed Martin (NYSE: LMT) has received a $1.5 billion contract modification to fund the procurement of C-130J aircraft for the U.S. Air Force.

The Defense Department said Thursday the contract represents full funding for the procurement of long-lead items the Air Force ordered along with 28 fiscal 2016 C-130J.

The covered aircraft are 14 C-130J, five HC-130J and eight MC-130J.

Lockheed Martin will carry out production work in Marietta, Georgia, through July 31, 2019.

The C-130J Super Hercules airlifter is built to aid humanitarian relief operations and perform aerial refueling and close air support.

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