Lockheed Martin UK wins $1bn tanks contract

London - Lockheed Martin UK, the British unit of the US defence company, said it won a $1bn contract from General Dynamics UK to provide turrets for the new Scout specialist vehicle ordered by Britain's armed forces.

Lockheed Martin UK said in a statement on Tuesday that the contract to design and manufacture 245 turrets for the new tanks would sustain 880 jobs at its site in Bedfordshire, England.

The British government in September signed a deal worth £3.5bn ($5.76bn) with General Dynamics for the new Scout armoured fighting vehicles, its biggest single order for such vehicles in over 30 years.

The vehicles will start being delivered in 2017.