Defense Stock News: Lockheed Martin (NYSE: $LMT) To Deliver 50 C-130Js to U.S. Government via Multiyear III Award
Multiyear III provides Super Hercules aircraft for U.S. Air Force, Marine Corps, Coast Guard
MARIETTA, Ga. - January 13, 2020 (Investorideas.com Newswire) Lockheed Martin (NYSE: LMT) will deliver 50 C-130J Super Hercules to the U.S. government through a C-130J Multiyear III award, which was finalized by the U.S. government on Dec. 27, 2019. The award comes as a delivery order under an existing Indefinite Delivery Indefinite Quantity contract awarded in August 2016.
Lockheed Martin's C-130 Super Hercules production line in Marietta, Georgia. The U.S. government ordered 50 more C-130Js on Dec. 30. The multiyear contract, worth $3.4 billion, provides 24 HC/MC-130Js to the U.S. Air Force, 20 KC-130Js for the U.S. Marine Corps and and options for six HC-130Js for the U.S. Coast Guard. (PRNewsfoto/Lockheed Martin Aeronautics Com)
The Department of Defense awarded more than $1.5 billion in funding for the first 21 C-130J aircraft on the multiyear award. The overall award, worth more than $3 billion, provides Super Hercules aircraft to the U.S. Air Force (24 HC/MC-130Js), Marine Corps (20 KC-130Js) and Coast Guard (options for six HC-130Js). Aircraft purchased through the C-130J Multiyear III award will deliver between 2021-2025, and will be built at Lockheed Martin's Marietta, Georgia, facility.
"The C-130J Multiyear III award represents a joint commitment between Lockheed Martin and the U.S. government in delivering proven capability that meets our operators' mission and affordability requirements," said Rod McLean, vice president and general manager, Air Mobility & Maritime Missions at Lockheed Martin. "Our partnership with the U.S. government provides significant savings through multiyear procurement as compared to annual buys, and provides the best tactical airlifter to crews who fly and support the world's largest Super Hercules fleet."
The C-130J Super Hercules is the global standard in tactical airlift, providing a unique mix of versatility and performance to complete any mission - anytime, anywhere. The Super Hercules worldwide fleet has more than 2 million flight hours and is the airlifter of choice for 20 nations.
For additional information, visit www.lockheedmartin.com/c130.
About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 105,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.
SOURCE Lockheed Martin Aeronautics Company
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