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Lockheed wins $20.6m Deal

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]


U.S. Navy Urges Senate to Approve LCS Plan

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)


Coast Guard Awards Deepwater Contract Under New Management

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


Telenor Finalizes Comsat Acquisition

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


Lockheed Martin $24M Anti Sub Systems Contract

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.


Lockheed Martin-Led Team Launches Third LCS

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


GD to Build 'Sea Robots'

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


Coast Guard Meets with Lockheed, Northrop

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. Lockheed Martin CEO Robert Stevens and Northrop Grumman CEO Ron Sugar met with Allen to talk about the Deepwater program's new management plan, the Coast Guard said.


Coast Guard Postpones Pursuing Refunds For Faulty Ships

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 Security Office of the Inspector General are investigating the Coast Guard's Deepwater contracts, including the eight, 123-ft. patrol boats found to have structural problems, the AP reported.


Lockheed Martin Awarded $376m for LCS

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. The contracts for the remaining eight ships will be awarded through 2015. Marinette Marine Corporation, a Fincantieri company, will construct the ships in Marinette, Wis


OceanPower Technologies and Lockheed Martin Collaborating on Powerbuoy

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


Lockheed Martin Show Growth in Q! 2012 Results

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


Wärtsilä to Power Six New Pipe-laying Vessels

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


Philippine Passenger Ferry Disaster Update

Child rescued from the ferry: Photo courtesy of Philippine Coast Guard

The collision occurred in the vicinity of Lawis Ledge, off the island of Cebu between 'MV Sulpico Express 7', a cargo ship bound for Davao City, and 'MV St. Thomas Aquinas', a RoR passenger ferry out of Butuan bound for Cebu City. The ferry, with 841persons on board sank and at the latest count


Northrop Grumman's Gulfport Facility Operational Following Katrina

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


US Rep. Expects Congress to Add Ships to Defense Budget

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


Deepwater Fast-Response Cutter Reaches Milestone

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)


Lockheed Martin Awarded Contract for Sonar Upgrades for U.S. Navy Submarines

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


Lockheed Martin Team Approved to Begin Detail Design and Construction on First Littoral Combat Ship

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


LCS Team Confirms Seaframe Design

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


Fincantieri to Acquire the Manitowoc Marine Group

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]


Lockheed Martin, Navy Destroyer Contract

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


Lockheed Martin Contract for Next LCS

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.


Lockheed Team Submits LCS FY10 Proposal

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


Marinette Marine Breaks Ground on New Facility

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






 
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