Australia names Lockheed Martin as weapons system provider for new submarines
Australia has selected U.S. defence company Lockheed Martin Corp (LMT.N) as its preferred bidder to supply the combat system for its new $38 billion fleet of submarines, the country's defence industry minister said on Friday.
Lockheed Martin beat out competition from U.S. rival Raytheon Co (RTN.N), which built the system for Australia's existing Collins-class submarines.
Australia chose French naval contractor DCNS Group in April to build 12 new submarines in a deal worth A$50 billion (£29.47 billion) - one of the world's most lucrative defence contacts.
France beat out offers from... read more
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