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Lockheed Martin Protesting Loss Of Defense Vehicle Contract

Lockheed Martin was among three companies competing for the project.

Mnet 48390 Lockheed Martin Army Vehicle

Lockheed Martin says it's protesting the contract for a military vehicle it had hoped to assemble in south Arkansas being awarded to another company.

The Maryland-based company on Tuesday said it had filed a protest of the Army's decision last month to award a $6.7 billion contract to develop the joint light tactical vehicle to Wisconsin-based Oshkosh. Lockheed Martin was among three companies competing for the project, which it intended to build at its Camden facility in southern Arkansas.

The company said in a statement it believed it had offered the "most capable and affordable solution" for the JLTV program.

Arkansas lawmakers earlier this year had approved issuing $87 million in bonds if Lockheed won the JLTV contract.

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