Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Lockheed Martin UK says wins $1 billion contract for new tanks

Published 21/10/2014, 13:59
Lockheed Martin UK says wins $1 billion contract for new tanks
GD
-
LMT
-

LONDON (Reuters) - Lockheed Martin UK, the British unit of the U.S. defence company (N:LMT), said it won a $1 billion (789,340 pounds) contract from General Dynamics UK (N:GD) to provide turrets for the new SCOUT specialist vehicle ordered by Britain's armed forces.

Lockheed Martin UK said in a statement on Tuesday that the contract to design and manufacture 245 turrets for the new tanks would sustain 880 jobs at its site in Bedfordshire, England.

The British government in September signed a deal worth 3.5 billion pounds with General Dynamics for the new SCOUT armoured fighting vehicles, its biggest single order for such vehicles in over 30 years.

The vehicles will start being delivered in 2017.

(Reporting by Sarah Young, Editing by Paul Sandle)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.