Lockheed Martin Corp (NYSE:LMT) said it has been awarded a $20.6m contract to upgrade fire control systems on Australian naval ships. Lockheed said it will upgrade the MK92 Fire Control System to support the introduction of Standard Missile 2 capability on the Adelaide-class guided missile frigates. [Source: Thomson Financial]
According to a Dec. 14 report from Reuters, four top U.S. Navy officials appeared at a hastily arranged Senate hearing to press for approval of a $9.8b plan to buy 10 new coastal warships each from both Lockheed Martin Corp (LMT.N) and Australia's Austal Ltd (ASB.AX), instead of selecting just one. (Source: Reuters)
According to reports, the Coast Guard has awarded the first contract under its new management structure for the Deepwater program. The Coast Guard said in June that it would assume overall management duties for the troubled project, which includes a wide range of ships, aircraft and other systems. Lockheed Martin Corp. (LMT) and Northrop Grumman Corp. (NOC), the program's prime contractors through their Integrated Coast Guard Systems joint venture
General Dynamics Corp. (GD) won a $8.5 million contract to build two sea robots for the U.S. Navy. The unmanned surface vehicles will be part of an antisubmarine warfare package for the Littoral Combat Ship, a new U.S. Navy vessel designed to chase down enemy forces in coastal waters. General Dynamics is building some of the new vessels alongside a competing design built by Lockheed Martin Corp. (LMT). The sea robots will carry a variety of sensors and will have the ability to operate
Telenor has completed the acquisition of COMSAT Mobile Communications operations . Simultaneously to the acquisition, Telenor gathers all its mobile satellite activities under the new business area name Telenor Satellite Services, and becomes one of the world's largest global mobile satellite operators. COMSAT Mobile now becomes the U.S. subsidiary of Telenor, under the name Telenor Satellite Services, Inc. COMSAT Mobile, has annual revenues in excess of $100 million
Advanced acoustic processing and tracking capabilities provided by Lockheed Martin (NYSE: LMT) will enhance underwater surveillance and help increase situational awareness for the U.S. Navy fleet. Lockheed Martin has been awarded a follow-on contract from the Navy's Space and Naval Warfare Systems Command to provide technology updates and new concepts to detect and track submarines. This contract extension is valued at $24m.
The Lockheed Martin (NYSE: LMT)-led industry team launched the nation's third Littoral Combat Ship (LCS), Fort Worth, at the Marinette Marine shipyard. The 389-ft Fort Worth was launched into the Menominee River. Just prior to its launch, the ship's sponsor, Congresswoman Kay Granger of Texas, christened Fort Worth with the traditional smashing of a champagne bottle across the ship's bow. In March 2009, the U.S. Navy awarded the Lockheed Martin-led industry team a contract to construct Fort
Lockheed Martin [NYSE: LMT] was awarded a $15m firm-fixed-price contract as part of the U.S. Navy's Modernization Program for the DDG 51 Arleigh Burke-class destroyers. The contract, for initial Machinery Control System (MCS) shipsets and related equipment, includes options and engineering services which, if exercised, would bring the cumulative value to $51.5m. MCS provides centralized and remote control of selected machinery on U.S. Navy DDG 51-class ships
The U.S. Navy has awarded a Lockheed Martin (NYSE:LMT) -led industry team a fixed price incentive fee contract to construct the Navy's third Littoral Combat Ship (LCS). Marinette Marine Corporation in Marinette, WI, will construct the ship. "The Freedom class LCS is the most affordable surface combatant in the current shipbuilding plan in the last four decades - only six years from concept to the fleet, half the time," said Dan Schultz
The Lockheed Martin (NYSE:LMT) -led industry team submitted its proposal for the Littoral Combat Ship (LCS) fiscal year 2010 contract to the U.S. Navy on July 31. The Program Executive Office, Ships, is expected to award a contract this coming fiscal year for additional Littoral Combat Ships. The U.S. Navy is proceeding with a limited competition with winners of the Flight 0 phase of the program, Lockheed Martin and General Dynamics.
Wärtsilä power and positioning systems have been selected for ships being built for use by the Brazilian energy company Petrobras Wärtsilä has been contracted to supply integrated power solutions to six new offshore Pipe Laying Vessels (PLVs) being built for operation in
Lockheed Martin report increased net sales, earnings, & increases 2012 segment profit outlook -- Net sales increased 6 percent to $11.3 billion -- Earnings from continuing operations increased 20 percent to $665 million -- Earnings per diluted share from continuing operations increased 29
Ocean Power Technologies, Inc. is pleased to announce it will collaborate with Lockheed Martin (NYSE: LMT) in connection with OPT’s proposed commercial-scale wave power generation project at Reedsport, Oregon. Lockheed Martin will provide design, manufacturing
The U.S. Navy awarded a Lockheed Martin (NYSE: LMT)-led industry team $376m to build the seventh Littoral Combat Ship (LCS). The fixed-price-incentive-fee contract provides funding for the second of 10 ships the Navy awarded to the Lockheed Martin team in December 2010
Marinette Marine Corporation, a member of the Lockheed Martin (NYSE: LMT)-led Littoral Combat Ship (LCS) industry team, broke ground for a new panel-line fabrication building to support construction of the U.S. Navy's LCS. The new building will improve the first stage of ship construction at
Fincantieri - Cantieri Navali Italiani S.p.A., a leader in the commercial and naval shipbuilding industry, signed a definitive acquisition agreement to acquire the Manitowoc Marine Group (MMG), from its parent company, The Manitowoc Company, Inc. [NYSE: MTW]
The U.S. Coast Guard said it will temporarily stop its review and suspend its pursuit of a $96.1m refund for faulty ships built by Lockheed Martin Corp. (LMT) and Northrop Grumman Corp. (NOC), pending a Justice Department investigation. The Justice Department and the Department of Homeland
U.S. Coast Guard Commandant Adm. Thad Allen met last week with chief executive officers from Lockheed Martin Corp. (LMT) and Northrop Grumman Corp. (NOC) to discuss his agency's $24b modernization program, which has struggled with rising costs and technical difficulties.
U.S. Rep. Gene Taylor, D-Miss., said that lawmakers will try to add extra ships to the Navy budget, in addition to whatever the Pentagon requests, The Marketplace reported. Taylor said that President George W. Bush isn't fully focused on military needs as the White House prepares its 2008
Northrop Grumman Corporation's Gulfport facility joined the company's Pascagoula, Miss., and New Orleans facilities, by returning to shipbuilding production this week following three weeks of Hurricane Katrina recovery efforts. The facility began the week with positive news as
The U.S. Coast Guard's, 140-ft. fast-response cutter has reached a systems requirements milestone resulting in the ship being one step closer to construction commencement. The fast-response cutter is being built by Integrated Coast Guard Systems (ICGS)
The U.S. Navy has awarded Lockheed Martin (NYSE:LMT) a contract valued at more than $61 million for continued support to the Acoustic Rapid Commercial Off-The-Shelf (COTS) Insertion (A-RCI) program. A-RCI is a sonar system upgrade installed on all classes of U.S. Navy submarines
The U.S. Navy awarded a Lockheed Martin-led team $188.2 million to commence detail design and construction of the first Littoral Combat Ship (LCS), a revolutionary new class of naval combatant designed to dominate the world's coastal waters. The option was exercised under the LCS final system
The Lockheed Martin-led Littoral Combat Ship (LCS) team has confirmed its semi-planing seaframe design performance in preparation for the program's final design contract. The team, consisting of ship builders Bollinger Shipyards and Marinette Marine, naval architect Gibbs & Cox
Northrop Grumman Corporation’s Gold Team was chosen by the U.S. Navy to complete the system design for the Navy's advanced, 21st century surface combatant, DD(X). The project replaces the $25 billion DD-21 program of land-attack destroyers that was scrapped last fall.