LMT - Lockheed Martin bags $214.5M Navy contract

2023-03-06 03:06:50 ET

• Lockheed Martin ( NYSE: LMT ) was awarded a $214.5M indefinite-delivery/indefinite quantity, cost-plus-fixed-fee, cost-plus-incentive-fee, and cost type contract for multinational early start engineering efforts including planning and advance studies, requirements development, and performance assessment of the planned modernization and new combat system capabilities selection for current and future International Partner ships operating AEGIS.
• The contract involves Foreign Military Sales to Canada and other countries.
• Work is expected to be completed by December.
• Foreign Military Sales funds in the amount of $28.08M will be obligated on the first task order at time of award and will not expire at the end of the current fiscal year.
• The Naval Sea Systems is the contracting activity.

For further details see: