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Pentagon and Lockheed finalize 10-year deal for 850 F-35 jets

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Summary

The Defense Department announced Thursday it finalized a 10-year agreement with Lockheed Martin to produce at least 850 F-35 Lightning II fighter jets, covering production and future maintenance. Lockheed agreed to contribute at least $7 billion of its own funding toward initiatives supporting the F-35 program. Lockheed also raised its annual financial forecast following the agreement.

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