Lockheed Proposes Building 48 Aircraft in India for $10.5B Transport Deal
LMT sits 16% above its 52-week low of $437.25.
Summary
Lockheed Martin has submitted a bid for India's $10.5 billion medium transport aircraft program, proposing to manufacture 48 of the 60 aircraft locally in partnership with Tata Advanced Systems. The remaining 12 would be delivered flyaway, and the company would also upgrade India's existing 12 C-130J aircraft to a common configuration, creating a 72-aircraft fleet. This follows a series of major contract wins and a strong Q2, reinforcing Lockheed's international expansion. The proposal deepens its existing Tata relationship, which already produces C-130J empennages in Hyderabad. A decision on the tender is expected after evaluation of competing bids from Embraer and others.
Updates
· Wiseek News — Lockheed's $10.5B India C-130J offer includes 60 aircraft (12 flyaway, 48 built in India) and upgrades of 12 IAF C-130Js.
At the time of this announcement, LMT was trading at $506.98 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $116.6B. The 52-week trading range was $437.25 to $692.00. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Businessworld.