LOCKHEED MARTIN RECIEVES CONTRACT FOR C-130J SUPER HERCULES AIRLIFTERS FOR NORWAY
MARIETTA, Ga., 11/07/2007 -- Lockheed Martin [NYSE: LMT] has received an Undefinitized Contract Action (UCA) from the U.S. government valued at $304 million for the purchase of four C-130J Super Hercules airlifters, plus initial spares and training, for Norway through the Foreign Military Sales (FMS) program.
The UCA initially funds 50% of the program and will allow Lockheed Martin to begin long-lead acquisition of production materials. A fully definitized contract for the Norwegian aircraft is expected to be signed early next year.
We are proud to provide the Royal Norwegian Air Force with a new airlift fleet, said Ross Reynolds, vice president of C-130 programs for Lockheed Martin. As the first FMS order for the C-130J, this marks yet another important milestone in the history of the world's most versatile airlifter.
The Norwegian Super Hercules will be the longer fuselage, or stretched variant of the C-130J, similar to those being delivered to the U.S. Air Force. Deliveries to Norway will include one aircraft in 2008, one in 2009 and two in 2010.
The first two aircraft for Norway are already in production and were originally destined for service with the U.S. Air Force. As a result of Norway's urgent need to replace its nearly 40-year-old C-130s, the Norwegian government arranged with the U.S. government for early delivery. The second two aircraft will be built specifically for Norway.
Lockheed Martin and Norway signed a separate agreement in August for an industrial cooperation program that fully meets Norwegian requirements for the C-130J procurement.
The C-130Js that Norway will receive are capable of generating much greater operational efficiencies than the 1968-vintage C-130Hs that Norway has been operating. The C-130J can fly farther, faster, with more payload and higher reliability. The new aircraft will enable Norway to fully meet its national airlift mission requirements as well as those in support of international organizations such as the U.N. and NATO.
Headquartered in Bethesda, Md., Lockheed Martin employs over 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2006 sales of $39.6 billion.