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Lockheed Martin awarded $3.92B government contract modification

Lockheed Martin has been awarded a $3.92B contract modification to a previously awarded fixed-price-incentive-firm contract for production of both U.S. government and exportable Foreign Military Sales Terminal High Altitude Area Defense Interceptors plus associated equipment to the United Arab Emirates. FY12 and FY13 procurement funds in the amount of $862.41M and FMS case funds in the amount of $2.71B will fund this award. In addition, this award includes a FY14 priced option for the USG for the maximum amount of $352.7M to be exercised no later than Dec. 31.