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TheStreet Open House

Lockheed Martin Receives JASSM® Contract For Integration Onto Finnish Air Force F-18

ORLANDO, Fla., Dec. 3, 2012 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $5.1 million Foreign Military Sale contract from the U.S. Air Force to support integration of the Joint Air-to-Surface Standoff Missile (JASSM) onto the Finnish Air Force (FiAF) F-18C/D aircraft.

The contract is for the first phase of a six-year effort of software development and aircraft integration support. Additional contract awards are expected for remaining phases of integration support, missile procurement and post-production support. Finland is the second international customer for JASSM, following the Commonwealth of Australia, which became the first export customer in February 2006.

"JASSM plays a critical role in giving allied warfighters the operational flexibility, reliability and effectiveness necessary to complete their missions," said Alan Jackson, director of strike systems in Lockheed Martin's Missiles and Fire Control business. "The team has worked hard to be able to deliver this vital and affordable capability to our allied partners."

JASSM integration will coincide with the FiAF Mid-Life Two upgrade of their F-18 aircraft. The U.S. Navy will lead the integration effort in coordination with the U.S. Air Force, Lockheed Martin and the FiAF. Integration activities will take place at the Naval Air Warfare Center Weapons Division in China Lake, Calif.

The award aligns with the recent JASSM Production Lot 10 procurement contract to employ economies of scale, reducing cost for both the U.S. Government and Finland. JASSM on the F-18C/D enables Finland to fulfill its regional defense role, as well as its European community and North Atlantic Treaty Organization's (NATO) Partnership for Peace responsibilities.

The contract award follows several recent JASSM program milestones, including the Lot 10 contract award, certification of JASSM on the Royal Australian Air Force F/A-18 and successful integration on the U.S. Air Force F-15E.

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