Lockheed Martin Awarded $99.7M Contract
Lockheed Martin announced Tuesday the government has awarded the
Bethesda, MD-based company a nearly $100 million contract for
long-lead tasks related to the production of 30 new Advanced Block
52+ aircraft for Greece.
The governments of Greece and the United States signed a Letter
of Offer and Acceptance (LOA) for the aircraft earlier in December.
The new order includes 20 single-place F-16Cs and 10 two-place
F-16Ds. The LOA provides Greece an option for an additional 10
aircraft.
The new aircraft will supplement the existing fleet of Hellenic
Air Force (HAF) F-16s and continue the modernization of the HAF.
The total program value for the initial 30 aircraft is
approximately $2 billion, with Lockheed Martin's portion estimated
at about $1.2 billion.
"Under this contract, we'll provide the latest in advanced
technologies to ensure long-term mission success for our valued
customer, the Hellenic Air Force," said Ralph D. Heath, president
of Lockheed Martin Aeronautics Company. "It's especially gratifying
that this order marks the 50th time an F-16 customer has come back
to us for additional aircraft - establishing a record of customer
satisfaction that may be unmatched in the military aircraft
business."
"Our workforce builds an outstanding product and the world knows
it, as the F-16 continues its record of being the world's most
successful fighter," said June Shrewsbury, Lockheed Martin vice
president of F-16 programs. "This contract is great news for the
F-16 team, because it extends the production line another year and
opens the door wider for additional international sales in the
future."
The final Greek aircraft will be delivered in the fourth quarter
of 2009.
The Block 52+ is one of the most modern and capable F-16
versions ever built, providing a major leap in capabilities over
earlier models. Capability enhancements include an expanded core
computing capacity, improved communications and a large selection
of precision weapons.
The initial Foreign
Military Sales (FMS) contract covers materials and tasks necessary
to launch the new production program for Greece.
Lockheed Martin employs about 135,000 people worldwide and is
principally engaged in the research, design, development,
manufacture and integration of advanced technology systems,
products and services. The corporation reported 2004 sales of $35.5
billion.