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'Biggest Loser' divorce: Sam Poueu, Stephanie Anderson split before baby's birth
TEL AVIV, Israel, April 24 (UPI) -- Wings for Lockheed Martin's F-35 joint strike fighter are to be supplied by Israel Aerospace Industries under a contract with a potential value of $2.5 billion.
IAI said the length of the contract is 10-15 years. Initial deliveries of wings will begin in 2015.
"This agreement represents an important milestone for IAI and ensures its involvement in the world's most advanced fighter aircraft," said Joseph Weiss, president and chief executive officer of IAI. "I welcome the strengthening relationship with Lockheed Martin, a leading manufacturer of aircraft."
Lockheed Martin and IAI recently started construction of a production line for F-35 JSF Lightning II wings following IAI's investment in required technologies and systems. The company produces wings for Lockheed's F-16s and T-38s used by the U.S. Air Force.
IAI is Israel's largest aerospace and defense company. It has headquarters at Tel Aviv's David Ben Gurion International Airport.
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The tallest offshore wind power turbine in Scotland got the go-ahead this week under plans approved by the country's energy ministry despite local opposition.
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Agusta Westland's bids for utility helicopters for India's navy and coast guard will remain, despite the company being investigated over bribery allegations in another contract.
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Properties repossessed by lenders in the first quarter took an average of 477 days to complete the foreclosure process, up from 414 days in the previous...
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Nobody likes spending cuts but the champion of that attitude is clearly President Barack Obama, who seems to have a very clear pain-avoidance agenda.
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