logo
Share SHARE
FONT-SIZE Plus   Neg

Lockheed Martin-led Team Issued $715 Mln Contract Modification By U.S. Navy

Defense contractor Lockheed Martin Corp. (LMT: Quote) said Friday that the U.S. Navy has issued a Lockheed Martin-led industry team a $715 million contract modification to add funding for construction of two Littoral Combat Ships, or LCS, - the third and fourth in a 10-ship contract awarded in December 2010.

The contract modification is for construction of Little Rock and Sioux City. Construction on the first and second ships awarded under the contract, Milwaukee and Detroit, is already underway. Two ships awarded under previous contracts include USS Freedom, currently being prepared for her next deployment, and Fort Worth, scheduled to be commissioned in September.

Marinette Marine Corp. is building the ships in Marinette, Wisconsin, with naval architect Gibbs & Cox of Arlington, Virginia providing engineering support.

There are more than 700 companies in 43 states performing work on the Lockheed Martin Freedom-variant LCS program.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Fox News pundit Bill O'Reilly remains under fire amid accusations that he trumped up his role in covering international events. Only weeks after a Mother Jones article raised doubts about his claims that he was in the "warzone" during the Falklands War, the Washington Post noticed that O'Reilly once... PayPal, the online payment unit of Ebay, said it has agreed to buy mobile payment company Paydiant as part of efforts to expand its mobile offerings for merchants. The deal comes at a time when the mobile payment space is suffused with prominent players like Apple and Google, with retailers seeking their own mobile payment applications. Google plans to launch a limited-scale U.S. wireless service, which while not taking on the big players in the industry, would nonetheless incorporate technical innovations that could be absorbed the carriers. This was announced by Sundar Pichai, a top Google executive, at the ongoing World Mobile Congress in Barcelona.
comments powered by Disqus
Follow RTT