Lockheed Martin Corp. (LMT) has won a five-year C$22.3 million contract from the Canadian Army. The contract comprises providing support services for Lockheed’s live-fire, battle field training systems that prepare soldiers for future combat missions.
The Lockheed Martin Direct Fire Targetry system is a suite of interoperable, remotely controlled, static and moving targets operated at Canadian Forces Bases Gagetown, Valcartier, Petawawa and Wainwright. The system extends beyond conventional weapons training by providing a target system that utilizes live ammunition in a controlled environment.
Lockheed Martin is the original equipment manufacturer and has been the prime contractor for the program since 1997. The company serves the Canadian Army through its Canadian operations unit, Lockheed Martin Canada.
Lockheed Martin has a long-standing partnership with the Canadian Army working together for about 14 years now. This latest contract extends the period of performance to at least 2016 with options that could extend to 2018.
Lockheed Martin Canada, a business unit of Lockheed Martin Corp., has its headquarters in Ottawa. The company’s Canadian operations also extend in to Montreal and Dartmouth, employing about 550 people.
Based in Bethesda, Maryland, Lockheed Martin Corp. operates globally in research, design, development, manufacture, integration, operation and sustainment of advanced technology systems, products and services. Lockheed Martin’s focus on operational excellence yields affordable high-quality systems and services. It leads the industry in performance and domain expertise in strategic missile and missile defense systems.
Lockheed Martin currently retains a Zacks #3 Rank (short-term ‘Hold’ rating). We provide a long-term Neutral rating on the stock. The defense peers of the company are The Boeing Co. (BA), Northrop Grumman Corporation (NOC) and Raytheon Co. (RTN).
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