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
Jeff Bezos is now the world's second richest person. The founder and CEO of e-commerce giant Amazon.com Inc. has leapfrogged Berkshire Hathaway CEO Warren Buffett and Inditex fashion group founder Amancio Ortega to claim the second spot. In the annual letter to shareholders of hedge fund Pershing Square Capital Management L.P, CEO Bill Ackman admitted that the investment in Valeant Pharmaceuticals was a huge mistake. Valeant stock was down 19.2 percent in 2016 and tarnished the image of the hedge fund. A video posted by an outraged mother of her 13-year-old special needs son getting a thorough pat-down by a Transportation Security Administration officer at Dallas/Fort Worth International Airport has gone viral. The Texas woman, Jennifer Williamson, posted the two-minute video to Facebook on Sunday, showing her son who suffers from sensory processing disorder or SPD getting a thorough pat-down.
comments powered by Disqus
Follow RTT