Big US firms, Lockheed Martin and Boeing to reap big profits from Saudi contracts
Lockheed Martin Corp. and Boeing Co. will reap billions from Saudi contracts subsequent to President Trump's announcement that the Saudis will buy up to $110 billion in American weapons.
|Speaking at a conference in New York last Wednesday, Marillyn Hewson CEO of Lockheed Martin Corp. said she could see the company gaining up to $28 billion in new business from the Saudis. Dennis Muilenbege CEO of Boeing Co. also hopes to profit from sales to the Saudis of more than $50 billion for both military and commercial sales. Often these deals involve long term maintenance and sustainment contracts that can run up to 30 years. Typically these contracts make up 70 percent of the total value of sales.|