LOCKHEED MARTIN SELECTED FOR THE USAF FUTURE FLEXIBLE ACQUISITION AND SUSTAINMENT PROGRAM
Gaithersburg, MD, 07/30/2008 -- Lockheed Martin [NYSE: LMT] has received a prime contract under the U.S Air Force's Future Flexible Acquisition & Sustainment Tool (F2AST). Lockheed Martin was one of twelve companies selected by the Air Force's Warner Robins Air Logistics Center that is eligible to compete for a maximum of $6.9 billion under the new 10-year acquisition contracting program.
F2AST is a follow up to the existing Flexible Acquisition & Sustainment Tool (FAST) and Integrated Weapon System Support Programs (IWSSP) contracts. Lockheed Martin is an existing FAST contract holder.
Under the new contract, Lockheed Martin will vie for a wide range of development, modification and maintenance indefinite delivery/ indefinite quantity (ID/IQ) task orders in support of all U.S. Air Force managed weapons systems and Special Missions programs.
We are proud to continue our rich history of providing mission support to the Air Force on F2AST, said Judy Burke, Vice President Lockheed Martin ID/IQ Solutions. We're tremendously pleased to work with the Air Force once again sustaining vitally important weapon systems and look forward to meeting the needs of the Special Operations Community.
The Lockheed Martin team is made up of multiple corporate business areas, select Air Force sustainment solution providers, and multiple small businesses partners.
Headquartered in Bethesda, MD, Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.