Lockheed MartinÂ (NYSE:LMT) has secured a five-year, $504.3 million contract extension forÂ in-service support to the Canadian air force’s fleet of C-130J Super Hercules aircraft.
The company said Thursday it will continue to leadÂ performance-based logistics for the operations, sustainment and maintenance of theÂ 17-unit CC-130J fleet in Canada.
Lockheed collaborates withÂ Canadian aerospace companies such asÂ Cascade, IMP, CAE, Standard Aero and SonovisionÂ for Super Hercules ISS work in an effort to comply with Canada’s Industrial and Technological Benefits Policy.
The policy requiresÂ investments equal to the value of the contract toÂ be made withinÂ the country toÂ support research and development efforts and enlistÂ small toÂ medium-sized CanadianÂ businesses forÂ contract work.
Lockheed was awardedÂ the original C-130J production contract from CanadaÂ inÂ 2007 and delivered the 17 military transport planesÂ between 2010 and 2012.
C-130J Super Hercules serves as a tactical airlifter for a range of missions includingÂ combat, humanitarian, aerial refueling, firefighting and search and rescueÂ operations.