ITT Exelis to awarded LRIP awards for $60M

Exelis (XLS) has successfully negotiated an agreement with Lockheed Martin (LMT) to deliver carriage and release systems for the F-35 Lightning II. The combined value of the two low-rate initial production awards is approximately $60M. Under the latest LRIP contracts Exelis will provide additional systems, including spare equipment, to all three variants of the aircraft.

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