Lockheed, Partners Bid for Tracer Pact

Lockheed Martin Corp. and British Aerospace said they teamed up to bid for a $5-billion contract to build the next-generation armored reconnaissance vehicle, known as the Tracer, early next century. The two, along with Vickers, General Dynamics Corp. and other partners, will compete with a group of companies led by GKN, General Electric Co. of Britain and other U.S. firms in making vehicles for the U.S. and British armies. Britain and the U.S. will select a winning consortium to build the Tracer in 2001. Manufacturing should begin by 2005, meaning the new vehicles may be in service by 2007. Shares of Bethesda, Md.-based Lockheed Martin rose $4.375 to $83.625 on the New York Stock Exchange.