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Lockheed Martin gets $635M contract to upgrade Turkey's F-16s

Lockheed Martin gets $635M contract to upgrade Turkey's F-16s

Lockheed Martin Corp., the largest U.S. military contractor, said Tuesday it won a $635 million (euro481 million) contract to upgrade Turkey's fleet of F-16 fighter jets.
The U.S. government awarded the contract, which runs into 2016.
The work will be done mostly at Lockheed's facility in Fort Worth and Tusas Aerospace Industries in Ankara, Turkey.
Lockheed agreed to supply 216 modernization kits to upgrade F-16s operated by the Turkish air force and to provide testing and training help. The contract continues work that began under a contract from July 2005, which followed an agreement between the two governments earlier last year.
Lockheed shares rose 65 cents to close Tuesday at $92.35 on the New York Stock Exchange.


Updated : 2021-01-26 18:23 GMT+08:00