Chambliss: Air force signs F-22 Multi-Year Contract

Press Release

CHAMBLISS: AIR FORCE SIGNS F-22 MULTI-YEAR CONTRACT
CONTRACT WILL ENSURE AIR DOMINANCE FOR DECADES

U.S. Senator Saxby Chambliss, R-Ga., a member of the Senate Armed Services Committee, today applauded the award of a multi-year contract between the Air Force and Lockheed Martin Aeronautics Company for advanced procurement, Economic Order Quantity, and Full Rate Production of 60 F-22 aircraft. The value of the contract is $5.049 billion. The Air Force also awarded a $1.2 billion contract with Pratt and Whitney for F-22 engines. Final assembly for the F-22 is performed in Marietta GA. On June 29th, 2007, the Secretary of Defense certified that the F-22 multi-year contract authorized in the fiscal year 2007 National Defense Authorization Act meets all requirements of the law and will result in a savings to American taxpayers of $411M.

"This is a huge victory for the Department of Defense, the Air Force, and for the American taxpayers," said Chambliss. "The F-22 is the world's most advanced fighter and will ensure that the U.S owns the skies for many years to come and that U.S forces deployed worldwide are ensured air superiority to carry out their missions unimpeded. The F-22 meets all requirements for a multi-year contract and will clearly result in substantial savings for the government. Almost every time I'm in an Armed Services Committee hearing, someone makes the point that we need to think of ways to do things better, less expensively and with better acquisition processes in order to use the taxpayers' resources more wisely. That is exactly what the F-22 multi-year contract will do by securing $411 million in savings and allowing the Defense Department and the contractor to conduct business better, faster, and cheaper -- and that is good government," Chambliss added.

Source