US: Israel May Buy 4 Lockheed Littoral Combat Ships For $1.9 Billion
Wednesday July 16th, 2008 / 23h45
WASHINGTON (AFP)--The Pentagon said Wednesday it has notified Congress of a possible sale to Israel of four littoral combat ships (LCS) valued at up to $1.9 billion. The LCS is a new generation of fast, maneuverable vessel designed for coastal waters. The U.S. Navy has bought two of the vessels, but canceled contracts for two more because of cost overruns. The Defense Security Cooperation Agency said Israel "has requested a possible sale of up to four Littoral Combat ships (LCS-1 variant)," which is built by Lockheed Martin Corp (LMT). "The total value, if all options are exercised, could be as high as $1.9 billion," the agency said. It said the proposed sale would not affect the basic military balance in the region. -Dow Jones Newswires, 201-938-5500 Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=tbcz0xXX1Jauzo6mglEnJg%3D%3D. You can use this link on the day this article is published and the following day.
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