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Lockheed Martin Owego awarded $194 million contract modification

OWEGO, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego plant has been awarded a nearly $194 million contract modification to a previously awarded firm-fixed-price contract. This modification adds a $180 million “not-to-exceed, undefinitized line item for the production and delivery of four MH-60R aircraft,” according to an Oct. 26 Defense Department contract announcement. It also […]

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OWEGO, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego plant has been awarded a nearly $194 million contract modification to a previously awarded firm-fixed-price contract.

This modification adds a $180 million “not-to-exceed, undefinitized line item for the production and delivery of four MH-60R aircraft,” according to an Oct. 26 Defense Department contract announcement. It also exercises an almost $14 million option to procure three airborne low-frequency sonars in support of the government of Greece.

Work on this contract will be performed in Owego (49 percent); Stratford, Connecticut (37 percent); Troy, Alabama (7 percent); Brest, France (6 percent); and Portsmouth, Rhode Island (1 percent). It’s expected to be completed in February 2025, according to the contract announcement.

Foreign-military sales funds totaling nearly $44 million will be obligated at the time of award, none of which will expire at the end of the current fiscal year. The Naval Air Systems Command in Patuxent River, Maryland, is the contracting authority.

Jornal Staff