LMT News & Events

Lockheed Martin signed an incentive agreement with the state of Alabama to support its production facility in Pike County. The agreement will create new full-time positions at Lockheed Martin's Pike County production facility. The agreement highlights an investment by Lockheed Martin of over $150M for the next five years. "Lockheed Martin has been a longtime pillar of Alabama's aerospace industry, and we are thrilled to see the company's continued investment in our state," said Kay Ivey, governor of Alabama. "This latest expansion is a testament to the hard work of the highly skilled workforce in Pike County, and the innovative, Alabama-made products that keep turning heads on the global stage."

Reliance (RS) announced that its wholly-owned subsidiary, AMI Metals, has been awarded two significant contracts for United States government infrastructure and defense projects, reinforcing the company's position as a trusted partner in the aerospace and defense market. AMI was awarded a multi-year contract by the United States DHS to provide steel and steel logistics support services for the construction of the border wall for a total maximum estimated value of up to $2.24B. The contract runs from February 11, 2026 through December 31, 2028. Under the agreement, AMI will manage procurement, transportation, warehousing, and distribution of steel bollards and steel plates to support construction along the Southwest U.S. border. Steel deliveries are expected to begin in the second quarter of 2026. The financial outlook for the first quarter of 2026 provided by Reliance management on February 18, 2026 remains unchanged and does not include the benefits of this award. Additional financial details will be provided during Reliance's first quarter 2026 earnings call on April 23, 2026. Additionally, AMI was awarded a five-year contract, including option years, to process aluminum plate for multiple Lockheed Martin (LMT) platforms, including the F-35 LightningII program. The indefinite delivery/indefinite quantity agreement has a maximum estimated value of $654 million extending from January 1, 2027 through December 31, 2028 with a maximum of three one-year extensions, and includes value-added, just-in-time, cut-to-size and cut-to-shape processing of aluminum plate for many of Lockheed Martin's facilities, partners, and subcontractors.

Lockheed Martin was awarded a $700.4M modification to a previously awarded fixed-price incentive, undefinitized, advanced acquisition contract. This modification adds scope to procure long lead material, parts, and components in support of Lots 20 and 21 of F-35 production aircraft for the government of Denmark. Additionally, this modification provides additional funding to previously awarded scope that procures long lead materials, parts, and components in support of Lots 20 and 21 of F-35 production aircraft for F-35 Cooperative Program Partners and Foreign Military Customers. Work is expected to be completed December 2030. F-35 cooperative program partner funds in the amount of $305.9M and Foreign Military Sales customer funds in the amount of $394.5M will be obligated at the time of award, none of which expire at the end of the current fiscal year. This contract was not competed. Naval Air Systems Command is the contracting activity.