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LONDON, UK / ACCESSWIRE / May 23, 2017 / Active Wall St. blog coverage looks at the headline from Bethesda, Maryland based Lockheed Martin Corp. (NYSE: LMT) as the Company announced on May 20, 2017, that The Kingdom of Saudi Arabia (KSA) is interested in procuring various integrated air and missile defense, combat ships, tactical aircrafts, and rotary wing technologies and programs from the Company. The total value of the transaction is in excess of $28 billion. Register with us now for your free membership and blog access at:

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One of Lockheed Martin's competitors within the Aerospace/Defense Products & Services space, TransDigm Group Inc. (NYSE: TDG), reported on May 09, 2017, its results for Q2 FY17 which ended on April 01, 2017. AWS will be initiating a research report on TransDigm in the coming days.

Today, AWS is promoting its blog coverage on LMT; touching on TDG. Get all of our free blog coverage and more by clicking on the link below:

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Lockheed Martin is a global aerospace, defense, security and advanced technologies Company that is engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.

Commenting on the deal, Marillyn Hewson, Chairman, President and CEO of Lockheed Martin said:

"At Lockheed Martin, we are proud to be part of this historic announcement that will strengthen the relationship between the United States and the Kingdom of Saudi Arabia. We are especially proud of how our broad portfolio of advanced global security products and technologies will enhance national security in Saudi Arabia, strengthen the cause of peace in the region, and provide the foundation for job creation and economic prosperity in the US and in the Kingdom. These agreements will directly contribute to His Majesty's Vision 2030 by opening the door for thousands of highly skilled jobs in new economic sectors."

The details of the Letter of Offer and Memorandum of Intent

A Letter of Intent was signed between Lockheed Martin and Taqnia, a technology development and investment Company owned by the investment arm of the Saudi government. The Letter of Intent detailed the formation of a joint venture to assemble 150 S-70 L Black Hawk helicopters for the government of Saudi Arabia. As a result of the joint venture 450 new jobs are expected to be created in the US. The collaboration will also help KSA's Vision 2030 and shall create an additional 450 new jobs in the Kingdom. The collaboration is also expected to enhance the US/ Saudi global security partnership it will lead to development of local capabilities through technology and skills transfer.

Apart from the above, a Memorandum of Understanding (MoU) was signed between Lockheed Martin and Saudi Arabian Military Industries. The MoU between both organizations will help in jointly building the defense capabilities of KSA as envisioned in Vision 2030. It also has a provision for customization of the multi-mission Surface Combatants and Aerostats as per local requirements.

The implementation of the above agreements is expected to create nearly 18,000 highly skilled jobs in the US and thousands of jobs in KSA. The jobs will be related to the maintaining and modernizing of the above platforms and will be spread over a period of the next 30 years. These collaborations will help KSA to build its domestic technology capabilities and a skilled workforce as envisioned in Vision 2030. KSA has a long-term goal of locally producing items for its armed forces by 2030 as it wants to create more jobs within the country.

Backdrop

US President Donald Trump's visited Saudi Arabia on May 20, 2017, where he and the Deputy Crown Prince Mohammed bin Salman signed the historic ?Saudi-US Joint Strategic Vision Declaration? in Riyadh. During the President's visit, a number of agreements related to defense, business, and technology deals were signed by both countries. The total value of these deals is more than $380 billion, out of which the arms deal was valued at approximately $110 billion. Prominent amongst the arms deals was the landmark agreement to assemble 150 Lockheed Martin Blackhawk helicopters as well as the agreement to buy four Freedom-class Littoral Combat Ships worth $6 billion. The deal includes spares, training, and other logistics items.

Stock Performance

On Monday, May 22, 2017, the stock closed the trading session at $277.03, rising 1.55% from its previous closing price of $272.79. A total volume of 1.60 million shares have exchanged hands, which was higher than the 3-month average volume of 958.30 thousand shares. Lockheed Martin's stock price advanced 1.44% in the last month, 4.28% in the past three months, and 5.22% in the previous six months. The stock surged 15.40% in the previous twelve months. Furthermore, on a year to date basis, the stock gained 10.84%. Shares of the company have a PE ratio of 22.23 and have a dividend yield of 2.63%. At Monday's closing price, the stock's net capitalization stands at $80.34 billion.

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