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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (917)	10/21/1998 12:04:00 AM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Boeing, Lockheed get $3.03 bln for space launches WASHINGTON, Oct 16 (Reuters) - The U.S. Air Force on Friday awarded $1.88 billion to Boeing Co. and $1.15 billion to Lockheed Martin Corp. for new space launch rockets and launch support to the military. The firms will each provide new and cheaper families of expendable rockets to loft military satellites and other cargo into space between 2002 and 2006. Each company received two contracts for the so-called Evolved Expendable Launch Vehicle (EELV), including $500 million each for engineering and manufacturing development of their multi-stage rockets. Boeing will get $1.38 billion and Lockheed $650 million for launch services, including preparation of launch pads and other work at Vandenberg Air Force Base, Calif., and Cape Canaveral Air Force Station on Florida's Atlantic coast. Air Force officials announced at a news conference that the new rockets would save millions of dollars in launch costs and would also benefit the two firms because the rockets would provide greater revenue for the companies in the commercial satellite launch business. The contracts provide for the companies to launch a total of 28 government payloads, including military satellites, between 2002 and 2006. Boeing will conduct 19 launches and Lockheed nine launches.