US Lockheed Martin Invests $200m in Israel's Military Industry
US Lockheed Martin company has signed new contracts with Israeli defense industries totaling more than $200 million as part of the $2.5 billion deal concluded last year to supply 50 F-1I6 fighter aircrafts to the Israeli air force, reported Haaretz newspaper.
The amount represents about 25-30 percent of the company's commitment to invest approximately $850 million in Israeli defense industries during the next 10 years.
According to the paper, the commitment was one of the conditions the defense ministry set during the competition between Lockheed Martin and Boeing, producer of the F-15, for supply of advanced fighter aircrafts to the Israeli air force.
The contracts signed with Lockheed Martin include support for the development of new products by Israeli military industries, as well as the marketing of Israeli products and services abroad, said Haaretz.
Lockheed Martin also signed agreements with Israeli firms to develop new components for the F-16, both for Israel and for international suppliers.
The American company has also begun discussions with Israeli firms for supplying other components for Lockheed Martin Aeronautics, Haaretz added.
The company’s core business areas are systems integration, aeronautics, space, technology services and global telecommunications.
Lockheed Martin had in 1999 sales surpassing $25 billion, and employs approximately 140,000 people, according to the company’s website - Albawaba.com
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