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Lockheed wins nearly $106M Navy contract modification

PHOTO CREDIT: LOCKHEED MARTIN

SALINA, N.Y. — Lockheed Martin Corp. (NYSE: LMT) was recently awarded a $105.7 million modification to a previously-awarded U.S. Navy contract. The firm-fixed-price modification will exercise options for the production of MK 48 Mod 7 guidance and control sections and MK 48 Mod 7 Common Broadband Advanced Sonar System kits, according to a Nov. 5 […]

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SALINA, N.Y. — Lockheed Martin Corp. (NYSE: LMT) was recently awarded a $105.7 million modification to a previously-awarded U.S. Navy contract.

The firm-fixed-price modification will exercise options for the production of MK 48 Mod 7 guidance and control sections and MK 48 Mod 7 Common Broadband Advanced Sonar System kits, according to a Nov. 5 contract announcement from the U.S. Department of Defense. This modification is in support of the MK54 MOD 7 heavyweight torpedo program.

Work will be performed in Salina (60 percent); Clearwater, Florida (25 percent); Braintree, Massachusetts (10 percent); and Marion, Massachusetts (5 percent), and is expected to be completed by December 2025.

Fiscal 2021 weapons procurement (Navy) funds totaling $105,668,584 will be obligated at time of award and will not expire at the end of the current fiscal year, per the contract announcement. The Naval Sea Systems Command in Washington, D.C. is the contracting authority.

Jornal Staff