Lockheed wins $489 mln deal for C-5 modernization – Pentagon

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Lockheed Martin Corp has won a contract valued at US$489 million to continue work on modernizing and putting new engines on the Air Force’s massive C-5 transport planes, said the Pentagon.

It said the contract would run through July 17, 2015, with the work to be done at Lockheed’s Marietta, Georgia plant outside Atlanta, Reuters reports.