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Lockheed Martin Wrests $5 Billion SOCOM Logistics Support Contract From L-3

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By Marina Malenic Beating out a long-term incumbent, Lockheed Martin [LMT] has been awarded a 10-year, $5 billion contract to supply U.S. Special Operations Forces with logistics support, the Defense Department said on Monday. L-3 Communications [LLL] had been in charge of the program for the past 20 years, which had provided the company approximately $400 million in annual revenue. The new contract is worth approximately $500 million in sales per year. Several competitors, including a Boeing [BA]-led team, competed…

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