ST. LOUIS, Feb. 23 (UPI) -- South Korea has given Boeing a five-year, performance-based logistics contract for sustainment of the country's F-15 fighter aircraft.
Under the award from South Korea's Defense Acquisition Program Administration, Boeing will provide the South Korean air force with integrated supply chain forecasting; coordinated procurement of production and spare parts; contracting of suppliers; and implement efficient delivery processes in collaboration with customer maintenance depots and local industry.
The contract is worth $300 million.
Boeing said its South Korean partner, Hyundai Glovis, will provide in-country logistics handling and as well as distribution tasks.
"Boeing is pleased to continue supporting the (South Korean air force) F-15 fleet, which already has achieved some of the best mission-capability rates of any air force operating the F-15, and those rates have continuously improved since the aircraft's introduction to the (air force)," said Jim O'Neill, vice president and general manager, Boeing Integrated Logistics.
"A PBL approach will ensure the F-15K remains operationally ready to protect the Republic of Korea for years to come by keeping mission-essential parts available when needed to meet the (air force's) F-15K mission capability needs, while managing overall life-cycle cost and providing new opportunities for Korean industry."