Colorado-based Lockheed Martin Space Systems Co. is the odd company out among bidders to start work on a U.S. Air Force project to update the nation’s intercontinental nuclear missile fleet.
The Jefferson County, Colorado-based division of defense contractor Bethesda-based Lockheed Martin Corp. (NYSE: LMT) lost out to two rivals — Chicago-based The Boeing Co. (NYSE: BA) and Falls Church-based Northrop Grumman Corp. (NYSE: NOC) — as the Air Force narrowed the competition.
Boeing won $349 million and Northrop Grumman $328.5 million for three-year contracts covering engineering and design proposals for a new ground-based nuclear missile system to replace the nation’s aging Minuteman III fleet.
“Airmen must always be ready in this no-fail mission,” said Gen. Dave Goldfein, chief of staff of the Air Force. “As others have stated, the only thing more expensive than deterrence is fighting a war. The Minuteman III is 45 years old. It is time to upgrade.”
The Air Force’s ultimate…Read the full story from the Washington Business Journal.
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