LOCKHEED MARTIN AWARDED ADDITIONAL $5 BILLION IN MULTIYEAR CONTRACT TO BUILD 60 F-22 RAPTORS
Marietta, Ga., July 31, 2007 -- Lockheed Martin [NYSE: LMT] today received an additional $5 billion from the U.S. Air Force for three lots of F-22 Raptor air dominance fighters. This brings the total multi-year contract value to $7.3 billion and extends the production of the aircraft through the year 2011.
The U.S. government previously awarded $2.3 billion of the contract to buy long lead- time parts and maintain continuous manufacturing flow. The aircraft will be built at a rate of 20 per year, with deliveries starting in late 2008.
"The multi-year contract allows us to generate savings for the taxpayer and continue to deliver the most capable aircraft in the world to the men and women defending our nation," said Larry Lawson, Lockheed Martin Aeronautics executive vice president and F-22 program general manager. "We have worked with our industry partners and the Air Force to make this a win-win for everyone. The F-22 provides a revolutionary capability that will help to deter aggression for the next four decades."
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Marietta, Ga., July 31, 2007 -- Lockheed Martin [NYSE: LMT] today received an additional $5 billion from the U.S. Air Force for three lots of F-22 Raptor air dominance fighters. This brings the total multi-year contract value to $7.3 billion and extends the production of the aircraft through the year 2011.
The U.S. government previously awarded $2.3 billion of the contract to buy long lead- time parts and maintain continuous manufacturing flow. The aircraft will be built at a rate of 20 per year, with deliveries starting in late 2008.
"The multi-year contract allows us to generate savings for the taxpayer and continue to deliver the most capable aircraft in the world to the men and women defending our nation," said Larry Lawson, Lockheed Martin Aeronautics executive vice president and F-22 program general manager. "We have worked with our industry partners and the Air Force to make this a win-win for everyone. The F-22 provides a revolutionary capability that will help to deter aggression for the next four decades."
Full story
http://www.lockheedmartin.com/wms/findPage.do?dsp=fec&ci=18503&rsbci=0&fti=111&ti=0&sc=400