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
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT