JOHNSTOWN, Pa., Oct. 11 (UPI) -- South Korea has awarded three contracts to Lockheed Martin to support its supply chain needs for aircraft operated by its navy and air force.
The contracts have an annual ceiling value of $2 million and are funded incrementally by the government, Lockheed Martin said. No details were disclosed on the length of the supply chain support awards.
Under the terms of the contracts, Lockheed Martin will provide spare material and repair of military hardware for South Korea's fleet of F-16 fighters and P-3 maritime patrol aircraft, as it has for South Korea's C-130s for about a decade.
"The establishment of these contracts with the Republic of Korea highlights the confidence our customers have in our capability to maintain critical spare parts and repair of military hardware for their weapon systems," said Janet Gohman, director, Global Supply Chain Services for Lockheed Martin's Mission Systems and Sensors business. "We focus on delivering an effective and integrated supply chain to increase affordability and reduce turn-around-time for our customers."