Lockheed Martin Receives $8.4 Billion Modification to US Army Contract
MT Newswires Live
6 hours ago
Lockheed Martin (LMT) secured a $8.4 billion modification to its contract with the US Army, bringing the total cumulative face value of the contract to $13.34 billion, the US Department of Defense said in a late Tuesday statement.
The contract modification extends the ordering period for higher production capacity of precision strike missiles increment one and procurement of early operational capability assets, follow-on production, and management through fiscal 2032, according to the statement.
Project work is expected to be completed by Sept. 30, 2032, according to the Department.
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