Lockheed, Pentagon Strike $5B Fighter Jet Deal

Law360, New York (September 22, 2010, 6:53 PM EDT) -- Lockheed Martin Corp. has reached an agreement with the U.S. Department of Defense to build 32 new F-35 Joint Strike Fighters, paving the way for a $5 billion contract.

The agreement marks the fourth and largest production lot of F-35s the Pentagon has ordered from Lockheed since the company rolled out the first generation of the planes, John Kent, a spokesman for Lockheed’s F-35 program, told Law360 on Wednesday.

According to Kent, Lockheed expects that in the next several weeks the DOD will sign a contract...
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