Lockheed Qualifies for FAA Deal |
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Sat, 24 Feb 2007 01:02
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WASHINGTON (AP) - The Federal Aviation Administration on Friday said three defense companies have qualified to compete in one portion of a multibillion-dollar contract to upgrade the nation's air traffic control system.The three companies qualified to compete are Bethesda, Md.-based Lockheed Martin Corp., White Plains, N.Y.-based ITT Corp. and Waltham, Mass.-based Raytheon Co.The company that wins the contract will build a Global Positioning System for commercial and general aviation aircraft. The goal is to reduce runway mix-ups and increase the number of planes that can safely be aloft at one time.The agency will begin accepting bids on the contract in March and is expected to award the contract as early as July.The contract will be completed by 2014 in two phases, the first of which calls for the installation of communications equipment in Philadelphia, Louisville and Juneau, Alaska, as well as on oil and gas platforms in the Gulf of Mexico.The full upgrade of the air traffic control system is not expected to be completed until 2025.The Lockheed-led team includes Sensis Corp., Harris Corp., and Honeywell International Inc.Shares of Lockheed gained 56 cents to finish at $102.11 on New York Stock Exchange, while shares of ITT dropped 20 cents to close at $60.96. Shares of Raytheon dropped 56 cents to $54.82 on the Exchange.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Lockheed gets Belgian contract 