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Lockheed Lands $287M Air Force C-130J Manufacturing Contract Modification

LM MC-130J Commando IILockheed Martin (NYSE: LMT) has received a $287.2 million contract modification to produce an additional five C-130J type aircraft for the U.S. Air Force.

The Defense Department said Friday Lockheed will perform work in Marietta, Georgia, through Apr. 30, 2020.

DoD noted the full obligated amount is from the Air Force’s fiscal years 2014, 2015 and 2016 aircraft procurement funds as well as the Marine Corps and Navy‘s fiscal 2016 aircraft procurement funds and fiscal 2015 overseas contingency operations funds.

C-130J is built for various missions such as special operations, aerial refueling, close air support, search and rescue and personal recovery.

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