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) 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
Toy maker Hasbro Inc. (HAS) reported a profit for the fourth-quarter 2015 that grew about 3.5% from last year. Quarterly net revenues increased 13% from the prior year. Both earnings per share and revenue for the quarter beat analysts' expectations. Healthcare plan provider Centene Corp. (CNC) has been executing on its strategic objectives, including margin expansion. With its growing portfolio of integrated health solutions, Centene has a strong presence in government-sponsored healthcare, the highest growth category in the industry. A California man has filed a lawsuit against McDonald's alleging that the fast food giant is defrauding customers by cramming its mozzarella sticks with filler instead of real cheese. Chris Howe is seeking at least $5 million in damages on behalf of consumers in 42 states and the District of Columbia. The...
comments powered by Disqus
RELATED NEWS
Trade LMT now with 
Follow RTT