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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

Antietam, McCampbell Build Relationships at IFR 2016

Ticonderoga-class guided-missile cruiser USS Antietam (CG 54) and Arleigh Burke-class guided-missile destroyer USS McCampbell (DDG 85) arrived Feb. 4 in India

Indian Navy Shows Off Strength

India’s naval might was on full display off the coast of Visakhapatnam today (Saturday) as President Pranab Mukherjee reviewed the naval fleet.   Mukherjee,

Russia Confirms Tanker Seized by Niger Delta Militants

Russia’s embassy in Nigeria confirmed on Thursday that the Greek-owned oil tanker Leon Dias has been hijacked in the Gulf of Guinea, reports TASS.   There are

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | 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: 0.0291 sec (34 req/sec)