Lockheed Martin Selected for $1 Billion Contract from UK Ministry of Defence

Bethesda-based Lockheed Martin's (NYSE: LMT), Lockheed Martin UK subsidiary was selected by the United Kingdom Ministry of Defence to lead the upgrade of the British Army's Warrior Armoured Fighting Vehicle.

The defense giant will get 642 million pounds (approximately $1 billion) as part of a larger 1 billion pounds (approximately $1.6 billion) contract.

Lockheed Martin UK will upgrade and enhance the military vehicles including adding the CT40 weapon and improved armour protection so that use can be extended beyond 2040. The upgrades are part of the Warrior Capability Sustainment Programme (WCSP).

Suppliers including Ultra Electronics; the Defence Support Group; SCISYS; Rheinmetall Defence; Curtiss Wright; Thales UK; Moog; Meggitt; CTA International; Westwire; TKE; MTL andCaterpillar UK have joined Lockheed Martin as part of its Warrior Transformation Team (WTT).

The WCSP will create 600 jobs in the UK.

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