Lockheed Martin wins $380M military contract

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(Motor-Presse Stuttgard.)
Lockheed Martin was awarded a new military contract to modernize sight-pilot night vision sensors on AH-64 Apache helicopters.

Bethesda (Map, News) - Lockheed Martin, a Bethesda-based researcher, designer, developer and manufacturer of advanced technology, announced the signing of a $380 million contract with the U.S. military.

A four-year deal, the performance-based logistics contract is for Lockheed to support the Target Acquisition Designation Sight-Pilot Night Vision Sensor and to modernize the same system on the AH-64 Apache helicopter.

The first year of the deal is valued at about $123 million.

“This ... program will reduce the length of the supply pipeline, enabling the U.S. Army to receive spare parts more quickly,” Dave Bevlin, a Lockheed product support manager, said in a statement. “More efficient supply management will reduce operation and support cost burdens, providing funds for continuing system modernization and reliability improvements.”

As of Monday, shares of Lockheed were trading at $99.02, up 18 cents, or 0.18 percent.

SEE THE LATEST ON THIS STORY

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96 days ago: Precedent helps former government employees bid on contracts

108 days ago: 16 local companies to share in $12 billion contract deal

130 days ago: Minority contractors protest city bidding process

379 days ago: DynCorp International shares $1.8B Army contract

381 days ago: Joint venture wins Fort Belvoir NGA contract

383 days ago: Federal rule in the works to require new ethical guidelines for contractors

394 days ago: Local firms among those splitting $50 billion government contract

436 days ago: Maryland will get back taxes from companies with federal contracts

438 days ago: State lends Silver Spring business a hand

438 days ago: Vets get own contract to compete for $5 billion in government business