Lockheed Martin Receives $150M Contract
Monday April 2, 1:50 pm ET
Lockheed Martin Receives $150 Million Contract From Mitsubishi Heavy Industries
FORT WORTH, Texas (AP) -- Defense contractor Lockheed Martin Corp. said Monday that it received a $150 million contract from Mitsubishi Heavy Industries to make components for five additional F-2 production aircraft.
Mitsubishi Heavy is the prime contractor for the F-2, Japan's operational support fighter.
The Japanese government recently authorized the total production of 94 F-2 aircraft, with Lockheed's new deal bringing the total aircraft under contract to 86.
Under the new pact, Lockheed will provide all of the aft fuselages, wing leading-edge flaps and stores management systems; 80 percent of all left-hand wing boxes and other avionics and avionics support equipment.
Lockheed components are shipped to Mitsubishi Heavy's Komaki-South plant in Nagoya, Japan, and are assembled with other components by Mitsubishi Heavy to form the F-2.
Deliveries under the new contract are set to begin in February 2008.
Lockheed began delivering F-2 components to Mitsubishi Heavy in 1998.
Shares of Lockheed Martin added 7 cents to $97.09 in afternoon trading on the New York Stock Exchange.