Capital Goods Sector Review: Lockheed Martin Contracts, Yuchai Gets Good Remarks
Caterpillar Inc. (NYSE:CAT): China Yuchai International Limited (NYSE:CYD) announced that Yuchai Remanufacturing Services, the remanufacturing joint venture between its main operating subsidiary, Guangxi Yuchai Machinery Company Limited and Caterpillar Investment (NYSE:CAT), received positive remarks at a recent assessment conference from the Guangxi Development and Reform Commission, a regional division of the National Development and Reform Commission. Yuchai Remanufacturing Services which is held 49%-51% by Caterpillar China and GYMCL respectively, was incorporated in April 2010 in Suzhou, Jiangsu Province in China to provide remanufacturing services for and relating to GYMCL’s diesel engines and components and certain Caterpillar diesel engines and components.
The shares closed at $110.41, down $0.87, or 0.78%, on the day. Its market capitalization is $71.39 billion.
The Boeing Company (NYSE:BA), Lockheed Martin (NYSE:LMT) and EADS (EADSY) have been invited by South Korea to participate in the country’s next generation fighter jet program, which will invest $7.39B until 2021, Reuters reports. The deadline for proposals will close on June 18.
The shares closed at $74.16, down $0.39, or 0.52%, on the day. Its market capitalization is $55.23 billion.
Lockheed Martin Corp. (NYSE:LMT) received contracts totaling $921M from the U.S. Army Aviation and Missile Command for hardware and services associated with the combat-proven Patriot Advanced Capability-3 Missile Segment program. The contract includes FY1`2 missile and command launch system production for the U.S. Army and a follow-on sale of the PAC-3 Missile Segment to Taiwan.The contract includes production of hit-to-kill PAC-3 Missiles, launcher modification kits, spares and other equipment, as well as program management and services. Deliveries will begin in the first half of 2013.
The shares closed at $82.01, down $0.01, or 0.01%, on the day. Its market capitalization is $26.33 billion.
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