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Investing.com -- The U.S. Department of Defense has awarded Lockheed Martin (NYSE:LMT) Missiles and Fire Control, a $600 million contract modification. The firm is based in Orlando, Florida, with performance locations in Orlando, Florida, and Troy, Alabama. This modification is an addition to a previously awarded contract for full life cycle weapon system support.
The support is related to several missile programs, including the Joint Air to Surface Standoff Missile (JASSM), JASSM-Extended Range (JASSM-ER), future variants of JASSM, Long Range Anti-Ship Missile (LRASM), and future variants of LRASM.
The contract modification increases the total cumulative face value of the contract to $600 million, up from the original $450 million. This adjustment is specifically to increase the ceiling of indefinite-delivery indefinite-quantity 7.
The work under this contract will be carried out in Orlando, Florida, and is expected to be completed by June 14, 2027. At the time of the award, no funds have been obligated.
The contracting activity is being managed by the Air Force Life Cycle Management Center, located at Eglin Air Force Base, Florida.
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