SALINA, N.Y. — The U.S. Air Force has selected the Salina plant of Lockheed Martin Corp. (NYSE: LMT) for a more than $75 million modification to a previously awarded contract for the Three-Dimensional Expeditionary Long-Range Radar (3DELRR) system.
This modification provides for the exercise of options for the initial two 3DELRR radars, production management, and supporting tasks under the basic contract, according to a Tuesday contract announcement from the U.S. Department of Defense. Work will be performed in Salina and is expected to be completed by Jan. 29, 2024.
The total cumulative face value of the contract is nearly $94.4 million, per the contract announcement. The Air Force Life Cycle Management Center at Hanscom Air Force Base in Massachusetts (northwest of Boston) is the contracting authority.
(Sponsored)
Navigating Cyber Threats to the Manufacturing Industry
Every business needs a solid IT strategy to keep up with the rise in cybercrime and the swift pace of technological innovation. Manufacturing companies face unique risks to their productivity
CECL Accounting Standard: What You Need to Know
The Financial Accounting Standards Board Accounting Standards Codification (FASB ASC) 326, Financial Instruments-Credit Losses, became effective for all entities on January 1, 2023. This accounting standard introduces the current expected
Lockheed Martin is a Bethesda, Maryland–based defense contractor. In greater Central New York, it operates plants in Salina and Owego.