DTN News: Lockheed Wins 10-Year Contract Worth Up To $5 Billion

DTN News: Lockheed Wins 10-Year Contract Worth Up To $5 Billion

Source: DTN News - this article / report compiled by Roger Smith from reliable sources

(NSI News Source Info) ORLANDO, Fla. - July 14, 2010: Lockheed Martin Corp. said Tuesday it won a 10-year defense contract that could be worth up to $5 billion. Under the contract, Lockheed will provide logistics support to troops around the globe, from aircraft and vehicle maintenance to electronics help. The contract was awarded by the U.S. military's special operations command. Lockheed will repair and maintain special operations aircraft, ground vehicles, weapons and electronics. It will also manage parts and warehouses, and upgrade secure computer networks.

The US Special Operations Command has awarded Lockheed Martin an Indefinite Delivery/Indefinite Quantity contract to provide full-scope logistics support to warfighters around the globe. The Logistics Support Contract for US Special Operations provides a wide range of mission-critical services, from aircraft and vehicle maintenance to IT and electronics support. The contract has a potential value of $5 billion over 10 years, Lockheed said.

The three primary components of the contract include - aircraft, vehicle and equipment maintenance, critical infrastructure support, and business process transformation. Under the contract, Lockheed Martin will repair and maintain the fleet of special operations aircraft, ground vehicles, and weaponry and electronics equipment, to include managing a global supply chain of parts, warehouses, and depots.The company will also manage and upgrade the command’s critical infrastructure, from secure IT networks to worldwide facilities.

Subcontractors include Boeing Co. Lockheed reported $45 billion in net sales last year. In trading Tuesday morning, Lockheed sharesrose $1, or 1.3 percent, to $75.74.