- Lockheed Martin Corp (NYSE:LMT) and the F-35 Joint Program Office (JPO) signed the Lightning Air System National Capability Enterprise (LANCE) 23-27 contract to support the United Kingdom’s F-35 fleet.
- The contract is valued at ~£147 million and will ensure and enhance the UK F-35 fleet’s availability and capability to conduct combat missions worldwide.
- BAE Systems (OTC:BAESY) will serve as the primary subcontractor to Lockheed Martin, providing most personnel at Royal Air Force (RAF) Marham and in deployed locations as required.
- The contract will secure more than 140 U.K. jobs, mainly at RAF Marham, with additional roles contracted within the maintenance teams on site.
- BAE Systems was awarded $491 million in contracts from LMT to produce state-of-the-art Block 4 electronic warfare (EW) systems for future Lot 17 F-35 Lightning II fighter jets.
- The powerful Block 4 systems will accelerate the delivery of advanced EW capabilities to warfighters by combining adaptable hardware and incremental software updates.
- Price Action: LMT shares closed higher by 2.94% at $486.62 and BAESY higher by 1.44% at $50.08 on Monday.
From Whoppers To Weed: Burger King Laid Off Hundreds, But Stiiizy Cannabis Is Hiring
When Burger King laid off more than 400 of its staff members in Michigan, cannabis company Stiiizy offered them a lifeline.
