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Lockheed to Help Extend Army Tactical Missile Service Life Under $365M Contract

Lockheed Martin‘s (NYSE: LMT) missiles and fire control business has received a potential $364.6 million contract to support service-life extension work on a guided missile and launch assemblies for the U.S. Army and Romania.

Work under the domestic and foreign military sales contract will run through March 26, 2020, the Defense Department said Thursday.

The service branch obligated $145.9 million at the time of the award from its fiscal 2017 and 2018 aircraft procurement; research, development, test and evaluation; overseas contingency operation and FMS funds.

The Army Contracting Command solicited and received one bid for the project.

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