|
|
Article: Lockheed Completes Oft-Delayed F-16 Deal with United Arab Emirates.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- March 6, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Mar. 6--The United Arab Emirates ended two years of negotiations Sunday and signed a contract order with Lockheed Martin Corp. for 80 F-16 fighter jets worth $6.4 billion to be built in Fort Worth and delivered between 2004 and 2007.
The deal -- which Congress must still approve in the next few months -- is a much-needed boon for Lockheed Martin's aeronautics division, which has limped along the last several months awaiting foreign orders.
"This will bring an enormous amount of work to Fort Worth," said Ralph Heath, vice president for operations. "In the near term, this will mean work for a large number of engineers; later it will be the production ...