Lockheed missile deal with Poland worth $250 million: defense ministry


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Dec 5, 2014

(Reuters) - A contract won by Lockheed Martin Corp (LMT.N) to supply Poland's air force with JASSM long-range air-to-surface missiles is worth about $250 million, the Polish defense ministry said.

"The contract signing is planned for December 11. At this stage we only confirm the value ... around $250 million," the ministry said in an emailed answer to Reuters questions.

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

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

Earlier on Friday, Poland's defense minister, Tomasz Siemoniak, 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.

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

(Reporting by Marcin Goclowski; Editing by Christian Lowe)
Lockheed missile deal with Poland worth $250 million: defense ministry| Reuters