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Tuesday, October 28, 2014

Israel to purchase 25 more F-35 Lockheed stealth fighters -sources, (NYSE: UTX)

Israel plans to purchase a second batch of Lockheed Martin's F-35 stealth fighter jets, bringing its total number on order to about 44, Israeli defense and U.S. sources said on Tuesday.Israel bought 19 F-35s for $2.75 billion in 2010, a deal that included options for up to 75 planes. Israeli Defence Minister Moshe Yaalon, visiting the United States last week, placed a preliminary order for about 25 more F-35s, the defense sources said without elaborating on cost.The first batch of planes is scheduled to arrive in Israel between 2016 and 2018, the sources said, noting that the second purchase needs final approval by an Israeli government panel.Israel will benefit from various efforts under way by Lockheed and engine maker Pratt & Whitney, a unit of United Technologies Corp to lower the cost to produce the jets, according to U.S. sources familiar with the plans.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX traded higher by 2.15% or $2.2401/share to $106.43. In the past year, the shares have traded as low as $97.30 and as high as $120.66. On average, 4338660 shares of UTX exchange hands on a given day and today's volume is recorded at 3350894.