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FINANCIAL NEWS
Lockheed Martin offers 8 Aegis ships to Saudi for USD5b
26 May 2011
(MENAFN) Lockheed Martin Corp Mission Systems business development’s vice president, Paul Lemmo, stated that the company offered Saudi eight Littoral Combat Ship hulls equipped with its Aegis radar worth around USD5 billion, reported Arabian Business.
Lemmo also said that the Aegis SPY 1F system which Lockheed offered Saudi was a smaller and lighter version of the missile and air defense system which the US Navy uses.
The vice president of the US-based firm added that the Kingdom was aiming to reinforce its eastern fleet with ships as well as drones, helicopters and high-speed patrol boats.
It is worth noting that Lockheed Martin is an American global aerospace, defense, security, and advanced technology company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995.
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BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
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24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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