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Lockheed gets $294M Air Force deal


Published : Thu, 01 Feb 2007 00:12
By : Agencies
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WASHINGTON (AFX) - The Air Force said on Wednesday it awarded a $294 million contract to a unit of Lockheed Martin Corp.

The Orlando, Fla.-based Lockheed Martin Missiles and Fire Control will provide work on the Air Force and Navy's Joint Air-to-Surface Standoff Missile, a precision cruise missile used to destroy high-value, well-defended, fixed and relocatable targets.

The company will complete work by March 2008.

Shares of Bethesda, Md.-based Lockheed Martin gained 76 cents to $97.95 in aftermarket trading, after gaining 95 cents to close at $97.19 on the New York Stock Exchange.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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