Author: Jamie Bennet|| Date Published: April 3, 2023
The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a $439.5 million contract to produce air-to-ground missile systems for U.S. and international defense customers.
The award is a hybrid of cost-plus-fixed-fee, fixed-price incentive and firm-fixed-price arrangements, and contractor work is expected to be completed by the end of September 2025, the Department of Defense said Friday.
Foreign military sales clients procuring the missiles through this contract include Australia, Czech Republic, France, South Korea and Thailand.
The full obligated amount will come from the Army and Air Force’s fiscal 2021 and 2022 missile procurement budget, as well as the Navy’s fiscal 2021 and 2022 weapons procurement budget.
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