SALINA, N.Y. — The Lockheed Martin Corp. (NYSE: LMT) plant in suburban Syracuse was recently awarded a more than $245 million modification to a previously awarded contract. It will exercise options for production, spares, production support material, engineering support, and hardware repair of components for MK 48 Heavyweight Torpedo All Up Round in support of […]
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SALINA, N.Y. — The Lockheed Martin Corp. (NYSE: LMT) plant in suburban Syracuse was recently awarded a more than $245 million modification to a previously awarded contract. It will exercise options for production, spares, production support material, engineering support, and hardware repair of components for MK 48 Heavyweight Torpedo All Up Round in support of the MK 48 MOD 7 Heavyweight Torpedo program, according to a Sept. 30 contract announcement from the U.S. Department of Defense. This pact combines purchases for the U.S. Navy, the Royal Australian Navy, and the foreign military sales program. Work will be performed in Salina (57 percent); Clearwater, Florida (37 percent); Braintree, Massachusetts (6 percent); and is expected to be completed by September 2027, per the announcement. Fiscal 2024 weapons procurement (Navy) funds totaling almost $158 million (65 percent); fiscal 2023 weapons procurement (Navy) funds of just over $12 million (5 percent); and funding from foreign partners totaling more than $73 million (30 percent), will be obligated at the time of award and will not expire at the end of the current fiscal year. The Naval Sea Systems Command in Washington, D.C. is the contracting authority.