Trump to meet with defence contractors Boeing, Lockheed Martin | Reuters

 Trump to meet with defence contractors Boeing, Lockheed Martin
| Reuters

By Melissa Fares

PALM BEACH, Fla. U.S. President-elect Donald Trump was scheduled to meet on Wednesday at his Florida resort with the chief executives of two defence contractors he has criticized over project costs.Dennis Muilenburg, of Boeing Co (BA.N), and Marillyn Hewson, from Lockheed Martin Corp (LMT.N), arrived at Trump's Mar-a-Lago resort where he is spending Christmas.Since winning the Nov. 8 election, Trump has complained about the companies in Twitter broadsides and speeches for costs he said are too expensive, sending defence shares tumbling.Trump has said Boeing's costs to build replacements for aging Air Force One planes - one of the most visible symbols of the U.S. presidency - are too high and urged the federal government to "Cancel order!"

Trump has said the planes, which are in the early stages of development and are not expected to be ready until 2024, would cost more than $4 billion. The company is currently under contract for $170 million to help develop plans for the planes.Muilenburg had told Trump that the costs could be lowered if the Air Force changes its requirements.

Similarly, Trump said Lockheed Martin's F-35 fighter jet program was "out of control," writing on Twitter that "Billions of dollars can and will be saved on military (and other) purchases after January 20th," the date he takes office.The costs of the F-35s, used by the U.S. Marine Corps and Air Force, and by six countries, have escalated to an estimated $400 billion, prompting it to be described as the most expensive weapon system in history.

Trump also has taken credit for forcing United Technologies Corp (UTX.N) and Ford Motor Co (F.N) to change plans to outsource jobs abroad. (Reporting by Melissa Fares; Writing by Roberta Rampton; Editing by Jonathan Oatis and Alistair Bell)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Dec 22, 2016 03:02:03 IST