Lockheed Wins $734.5-Million Military Contract

Lockheed Martin Corp. won a $734.5-million contract to supply 12 C-130J transport planes to the U.S. military. Work on the contract is to be completed by 2006. Bethesda, Md.-based Lockheed avoided a costly shutdown of its plant near Atlanta that makes the C-130J earlier this year when Congress authorized purchase of the planes. Separately, Lockheed said the government of Chile plans to buy 10 to 12 of its F-16 jets for up to $600 million, adding to a string of international sales of the fighter planes. Chile picked Lockheed’s F-16s over rival Mirage 2000-5 jets made by France’s Dassault Aviation, Gripen jets made by Sweden’s Saab and the Boeing F/A-18 fighter plane, Lockheed said. Shares of Lockheed rose 34 cents to close at $33.26 on the NYSE.