BUSINESS

EAB lands multimillion-dollar contracts with Lockheed Martin

EAB lands multimillion-dollar contracts with Lockheed Martin

The Hellenic Aerospace Industry (EAB) said on Friday it had signed two contracts worth 118.6 million euros with Lockheed Martin Aeronautics for the joint production of F-16 fighter jets for Lockheed Martin clients.

The two parties also signed a contract for the upgrading of the Hellenic Air Force’s F-16s to Viper level, budgeted at $97.5 million.

That means EAB has undertaken Lockheed Martin projects worth a total of $233.9 million.

EAB said these projects show the confidence Lockheed Martin has in it regarding its quality and reliability, and put the local aerospace industry competitive on a global level.