SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) plant in suburban Syracuse has won a $19 million adjustment to a previously awarded contract from the U.S. Navy. The cost-plus-incentive-fee modification is to a previously awarded delivery order under a contract for design and qualification testing of submarine electronic-warfare equipment, according to a Feb. 13 contract […]
SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) plant in suburban Syracuse has won a $19 million adjustment to a previously awarded contract from the U.S. Navy.
The cost-plus-incentive-fee modification is to a previously awarded delivery order under a contract for design and qualification testing of submarine electronic-warfare equipment, according to a Feb. 13 contract announcement from the U.S. Department of Defense. Work will be performed at the defense contractor’s Salina facility and is expected to be completed by February 2024.
Fiscal 2018 shipbuilding and conversion (Navy) funds totaling $3.6 million (48 percent); fiscal 2021 shipbuilding and conversion (Navy) funds of $2 million (27 percent); fiscal 2022 national sea-based deterrence (Navy) funds totaling $1.5 million (20 percent); and fiscal 2017 shipbuilding and conversion (Navy) funds of $400,000 (5 percent) will be obligated at time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command is Washington, D.C. is the contracting activity for this pact.
