Categories: Manufacturing & EngineeringNew York NewsRegional NewsSubscriber OnlyTechnology

Lockheed Martin Owego plant to work on Navy contract for aircraft for Korea

OWEGO, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego facility was recently awarded a $447.2 million order from the U.S. Navy against a previously issued basic-ordering agreement. This order provides for the production and delivery of 12 MH-60R aircraft for the government of the Republic of Korea. Work will be performed in Owego (52 percent); […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

OWEGO, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Owego facility was recently awarded a $447.2 million order from the U.S. Navy against a previously issued basic-ordering agreement.

This order provides for the production and delivery of 12 MH-60R aircraft for the government of the Republic of Korea. Work will be performed in Owego (52 percent); Stratford, Connecticut (40 percent); and Troy, Alabama (8 percent), and is expected to be completed in December 2024, according to an April 12 U.S. Department of Defense contract announcement.

Foreign military-sales funds totaling $447.2 million will be obligated at time of award, none of which will expire at the end of the current fiscal year, per the contract announcement. The Naval Air Systems Command in Patuxent River, Maryland is the contracting authority on this pact.

Jornal Staff