WASHINGTON May 15 The U.S. Air Force said on
Thursday it awarded Lockheed Martin Corp (LMT.N) a contract
worth up to $3.6 billion to start building a new generation of
global positioning satellites.
Col. Dave Madden, commander of the Air Force Space
Command's Global Positioning Systems Wing, told reporters the
initial contract was for two "research and development"
satellites worth $1.5 billion, with options for 10 more.
If the government exercises all options, the contract would
be worth nearly $3.6 billion, Madden said on a conference
Lockheed beat Boeing Co (BA.N) to win the deal.
(Reporting by Jim Wolf; Editing by Tim Dobbyn)