Herndon Products today announced that its HPI and HSP division will continue to supply parts and manage the depot maintenance supply chain for U.S. Air Force aircraft at three USAF sites.

The two-year contract extension is valued at $86 million and covers the first option period of the 7 year agreement; three additional option periods if exercised could bring the contract value to more than $400 million.

The world's leading supplier of aerospace consumable products and services, Herndon Products is supporting Lockheed Martin (LMT), which earlier this month received a two year extension on their Industrial Prime Vendor contract by the Defense Logistics Agency (DLA).

Under the agreement, Herndon Products and its subsidiary will provide as many as 10,000 parts consisting mostly of fasteners, bolts, screws, nuts and electrical components -- on a just-in-time basis to Lockheed Martin at the USAF's Warner Robins, Oklahoma City and Ogden Air Logistics centers.

"Working with our partners at Lockheed , we will reduce expenses at these defense supply centers in the areas of procurement, quality and planning," said Scott Herndon, president, Herndon Products. "Our portfolio of consumable hardware parts coupled with world-class quality and supply chain planning processes position us uniquely to provide value to the Air Force."