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Lockheed missile deal with Poland worth $250 million

Lockheed missile deal with Poland worth $250 million

WARSAW: Lockheed Martin Corporation won a contract to supply Poland’s air force with JASSM long range air to surface the Polish defence ministry said missiles is worth about $250 million.

The ministry said contract signing is planned for December 11. At this stage we only confirm the value around $250 million.

Further Poland is an attractive market for defense manufacturers because while many nations are slashing defence spending, Poland is increasing it, and has a $41 billion program to modernise its armed forces by 2022.

The missiles will be used to arm Poland’s 48-strong fleet of F-16 fighter jets. Polish officials had previously said the deal had been concluded, but did not say how much it was worth.

Tomasz Siemoniak Poland’s defence minister told public radio that he expects the signing of a deal for the delivery of 70 helicopters for the Polish army to take place in the first half of 2015 earlier on Friday.

The three suppliers to have expressed an interest are Sikorsky, a unit of U.S. group United Technologies, Airbus Group of France and AugustaWestland, owned by Italy’s Finmeccanica. The contract’s value is estimated at 10-12 billion zlotys ($2.98-3.57 billion).