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Lockheed’s suburban Syracuse plant wins nearly $36M Navy contract modification

SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Syracuse–area plant was recently awarded a $35.65 million modification to a previously awarded contract order from the U.S. Navy. The cost-plus-incentive-fee and firm-fixed-price adjustment will exercise options for the procurement of submarine new-construction kits, equipment, and installation, according to a Dec. 3 contract announcement from the U.S. […]

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SALINA, N.Y. — Lockheed Martin Corp.’s (NYSE: LMT) Syracuse–area plant was recently awarded a $35.65 million modification to a previously awarded contract order from the U.S. Navy.

The cost-plus-incentive-fee and firm-fixed-price adjustment will exercise options for the procurement of submarine new-construction kits, equipment, and installation, according to a Dec. 3 contract announcement from the U.S. Department of Defense.

Work will be performed in Lockheed’s plant in the town of Salina, and is expected to be completed by May 2025. Fiscal 2022 shipbuilding and conversion (Navy) funds totaling almost $22.4 million (63 percent); fiscal 2022 national sea-based deterrence funds of more than

$10.4 million (29 percent); and fiscal 2022 other procurement (Navy) funds totaling over $2.8 million (8 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 in Washington, D.C. is the contracting authority.

Jornal Staff