U.S. Navy Urges Senate to Approve LCS Plan

Wednesday, December 15, 2010

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)

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