Finland’s defense ministry has formalized an agreement to procure 64 F-35A conventional takeoff and landing jets along with associated equipment and sustainment services from the U.S. government for approximately $9.4 billion, Reuters reported Friday.
The signing of the procurement documents came one month after Lockheed Martin‘s (NYSE: LMT) aircraft offering for the country’s HX Fighter Program through an open competition.
U.S. officials who represent the F-35 Joint Program Office are responsible for implementing the letter of offer and acceptance under the foreign military sales program.
The Finnish government expects to receive F-35A Block 4 fighter planes within the 2026-2030 timeframe as part of the deal that also includes aircrew and technical personnel training.
Antti Kaikkonen, Finland’s defense minister, closed on a separate agreement with prime contractor Lockheed and engine manufacturer Pratt & Whitney, a subsidiary of Raytheon Technologies (NYSE: RTN), regarding the requirement that at least 30 percent of the total contract value will go to the domestic suppliers in the defense and security industry.
Reuters reports the Nordic country also intends to buy Lockheed-built surface-to-surface missile systems for an estimated price tag of $85 million.
