March 3, 2010 9:33:00 AM
FORT WORTH, Texas, -- The U.S. government has awarded an initial $213 million to Lockheed Martin (NYSE: LMT) for long-lead tasks for the production of 20 new Advanced Block 52 F-16 aircraft for Egypt.
"This is a great day for Lockheed Martin and a testament to the enduring partnership and commitment we have made to the government of Egypt. We remain committed to providing our customer with a proven, advanced 4th Generation multirole fighter," said John Larson, vice president, Lockheed Martin F-16 programs. "This marks the 53rd follow-on buy of F-16s by 14 repeat customers. The aircraft we will deliver to Egypt will join the fleet of more than 4,400 F-16s representing 25 nations."
The new aircraft order includes 16 F-16Cs and 4 F-16Ds, and will supplement the Egyptian Air Force's (EAF) existing fleet of F-16s and contribute to the modernization of the EAF. The final Egyptian F-16 under this contract will be delivered in 2013.
Egypt was the first Arab country to purchase F-16s through a Foreign Military Sales program called Peace Vector. The Egyptian Air Force received a total of 42 F-16s in its first order in 1980 and since then has purchased five more lots of aircraft, for a total of 240 F-16 Fighting Falcons.
Technorati Tags:
F-16 Falcon, Lockheed Martin (NYSE:LMT)
Technorati Tags:
Contract $200m+, Contract Win, Contract win, F-16 Falcon, Lockheed Martin (NYSE:LMT)
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