Lockheed Martin Receives $213 Million Contract For 20 New F-16s For Egypt
Fort worth, Texas, 03/03/2010 --
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 purchaseF-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.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 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 2009 sales of $45.2 billion.