Lockheed Martin Awarded $376m for LCS

(Press Release)
Friday, March 18, 2011

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., and naval architect Gibbs & Cox will provide engineering and design support.

"As the Lockheed Martin team constructs this next ship, we will remain focused on performance and cost," said Joe North, vice president of Lockheed Martin's Littoral Ship Systems business. "The Navy's 10-ship award provides stability to this program, allowing industry to more efficiently meet the customer's need for an affordable, multi-mission surface combatant."

The Lockheed Martin industry team designed and constructed the nation's first LCS, USS Freedom. USS Freedom was commissioned in 2008 and has sailed more than 50,000 nautical miles. Based at its homeport of San Diego, Calif., the ship completed a highly successful maiden deployment in 2010 and is now fully integrated into the fleet.

LCS 3, the Navy's future USS Fort Worth and Lockheed Martin's second LCS, is more than 85 percent complete and was christened and launched in December 2010 – a milestone reached just 20 months after contract award. The program remains on schedule and on budget for delivery to the Navy in 2012.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Sri Lanka Says No to Docking of Chinese Submarines

Sri Lanka declared that it will not allow Chinese submarines to dock in its waters as part of a new policy barring hosting of foreign submarines.   Sri Lanka's

China's Maritime Advances Worry US

The Director of U.S. National Intelligence, James Clapper, has expressed his concern at the progress of China in maritime zones it shares with its neighbors, accused

Somali Pirates Release Long-held Hostages

Somali pirates have freed four Thai nationals seized from a fishing vessel at sea in 2010, ending the longest-running hostage drama in the Horn of Africa state, the United Nations said on Friday.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1152 sec (9 req/sec)