White House to press defence firms to boost production as U.S. strikes on Iran draw down stockpiles [BNN Bloomberg (Canada)]
Lockheed Martin Corporation (LMT)
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Source: BNN Bloomberg
The meeting underscores the Trump administration's drive to shore up weapons stocks after the Iran operation drew on munitions. Companies including Lockheed Martin and Raytheon parent RTX , along with key suppliers, have been invited to attend the meeting, said the sources, who spoke on the condition of anonymity because the plan is private. Pentagon negotiators have not been able to reach terms with large defense contractors as quickly as they would like, a U.S. official told Reuters earlier this week. Lockheed and the White House did not immediately respond to a request for comment. RTX declined to comment on the meeting. The administration has been steadily ratcheting up pressure on defense contractors to prioritize production over shareholder payouts. Trump signed an executive order in January to identify contractors deemed to be underperforming on contracts while distributing profits to shareholders. Since Russia invaded Ukraine in 2022 and Israel's military operations
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- Trump Says Defense Firms to Quadruple Output of Some Weapons [Yahoo! Finance Canada]Yahoo! Finance Canada
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LMT
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LMT
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