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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

WWII Wrecks Found off North Carolina

German U-boat 576 and freighter Bluefields found within 240 yards A team of researchers led by NOAA’s Office of National Marine Sanctuaries have discovered two

US & ROK Navies to Participate in Exercise Clear Horizon

The U.S. and Republic of Korea (ROK) navies will participate in Exercise Clear Horizon, October 20-24, in waters south of the Korean peninsula. Clear Horizon

Mount Whitney Departs Batumi, Georgia

The U.S. 6th Fleet command and control ship USS Mount Whitney (LCC 20) departed Batumi, Georgia, Oct. 18 after completing a successful port visit. While in Batumi,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar
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: 0.1238 sec (8 req/sec)