Lockheed Martin, Comsat Combination Completed
Lockheed Martin and Comsat have completed the strategic combination following final approval from the Federal Communications Commission (FCC). The transaction was accomplished via a one-for-one tax-free exchange of Lockheed Martin common stock for Comsat common stock for the remaining 51 percent of Comsat stock Lockheed Martin did not own. The value of the exchange of common stock is approximately $790 million. Comsat will become an integral element of Lockheed Martin Global Telecommunications, a wholly owned subsidiary of the Corporation comprising Lockheed Martin's telecommunications services business. The resultant new business, with projected revenues approaching $1 billion, plans to offer services in the U.S.
Lockheed Selected for C4ISR Systems Lifecycle Support Services
Lockheed Martin has been awarded a indefinite delivery/indefinite quantity, cost-plus fixed fee contract by the U.S. Navy Space and , (SSC-SD) for C4ISR Systems Lifecycle Support Services. The period of performance is a three-year base period worth up to $59m. Two additional award term periods raise the potential value to $189m. Under this new contract, Lockheed Martin will provide a range of C4ISR System Lifecycle Support Services to the SSC-SD C4ISR Programs office located in . Specific efforts will include logistics planning, configuration management, system integration, system installations, technical documentation, training development, training, 24/7 customer support center, and technical field support.
Lockheed Martin Demonstrates New Radar Capabilities
Lockheed Martin showcased its newest radar capabilities to U.S. Navy officials, legislators and international customers. Lockheed Martin's Moorestown facility is world-renowned for its advanced naval radars, especially its SPY-1 phased array radar. SPY-1 is the main sensor in the Lockheed Martin-developed Aegis Weapon System, which is installed on 65 percent of the U.S. Navy's surface combatants, warships in Japan and Spain, and recently was selected for warships in Norway and Korea. During today's event, Lockheed Martin publicly unveiled its newest radar, the S-Band Advanced Radar, or SBAR. SBAR provides greatly improved detection at much greater ranges than the current SPY-1 radar, a key requirement to counter ballistic missile defense threats. Additionally, SBAR will improve the U.S.
Lockheed Martin Signs Preferred Vendor Agreement
SKY Computers, Inc., has entered into a preferred supplier corporate purchase agreement with the Lockheed Martin Corp., extending to all business units of Lockheed Martin, through 2001, with options to continue through 2003. SKY anticipates the agreement will result in increasing revenues exceeding $20 million over the life of the agreement for its board-level products and high-performance computing system products. The agreement provides preferred pricing of SKY products, as well as streamlining and simplifying procurement for Lockheed Martin. SKY has developed a dedicated product and pricing website to provide instant information to Lockheed Martin engineering and procurement personnel.
Lockheed Martin Awarded $57.3M for Aegis Engineering
The U.S. for Aegis Combat System engineering, installation and integration on new U.S. destroyers already in service. As the U.S. all combat system elements on all Aegis-equipped ships in the U.S. well as those in Japan, Spain, Norway and Korea. of Lockheed Martin's business in Moorestown.
Lockheed Martin Partners With Japanese Industry
Lockheed Martin, Mitsubishi Electric Corporation, SAMPA Kogyo K.K. and Mitsubishi Corporation have formed a joint venture company that will serve the emerging combat system engineering and lifetime support requirements of the Japan Maritime Self-Defense Forces (JMSDF). The joint venture company, MLS Corporation, represents a full service partnership arrangement between industry and government, and leverages Japanese and U.S. industry expertise in life cycle support and integration services to benefit the JMSDF. MLS Corporation products will include engineering support and testing of complex electronics equipment, logistics services, training, commercial-off- the-shelf (COTS) configuration management and application program maintenance and upgrades.
Lockheed U.K. Unit Wins Contract from Royal Navy
AFX has reported that Lockheed Martin Corp said its British unit, Lockheed Martin U.K., has been awarded a seven-year contract by the U.K. Royal Navy to upgrade the sonar systems on four Vanguard Class ballistic missile submarines. Lockheed Martin said more than 70 percent of the work will be performed in the U.K. It added the work is being carried out because the submarines' current sonar systems are at risk of becoming obsolete. Source: AFX
Lockheed Martin Awarded Study Contract for Israeli Navy LCS Design
The U.S. study for the Israeli Navy. naval requirements. the U.S. Navy. requirements. contracts to design and build one or two ships for the Israeli Navy. Shipyards in the United States. interest in Lockheed Martin's LCS design concept. The first LCS for the U.S. construction at Marinette Marine in Marinette, WI. in 2007. execution and optimum crew comfort. well as domestic and international teammates.
Lockheed Martin Wins $25M Crewboat Contract
Lockheed Martin won a contract valued at more than $25 million to perform detailed design, construction, test and delivery of two Small Waterplane Area Twin Hull (SWATH) crew transport vessels that will provide service to Mexico’s national oil company, PEMEX. The Lockheed Martin design is based on its SLICE Small Waterplane Area hull form. The contract, awarded to Lockheed Martin by Hoteleria y Servicios Petroleros, S. A. de C.V. (HSP), calls for the delivery of two SWATH crew transport vessels that can safely and swiftly transport people and limited cargo from Ciudad del Carmen to the Campeche Basin Oil Field 90 miles offshore. HSP will operate the two Lockheed Martin SWATH crew transport vessels for PEMEX for five years after delivery.
Lockheed Martin Gets $13M Contract
Lockheed Martin Corp., Lockheed Martin Aeronautical Systems of Marietta, Georgia is being awarded a contract modification for $13m. This contract modification is an undefinitized contract action for the procurement of Peculiar Spares and Support Equipment in support of the Norwegian foreign military sales program pursuant to Letter of offer and Acceptance (LOA). At this time $6m has been obligated. AFMC/ASC, Wright-Patterson Air Force Base, Ohio, is the contracting activity.
Lockheed Martin Acquires PAE
Lockheed Martin Corp. acquired Pacific Architects and Engineers Inc., which provides services supporting military and peacekeeping missions worldwide. Terms of the cash transaction were not disclosed. PAE of Los Angeles specializes in nation-building activities, personnel recruitment, and training and disaster relief services. It will become a wholly owned subsidiary of Lockheed Martin’s IT services segment.
Halter Marine Will Build Tugs for Lockheed Martin
Halter Marine, Inc (HMI), a division of Friede Goldman Halter, Inc. (FGHLQ) announced that it has received a Letter of Intent from Lockheed Martin Overseas Corporation to design, and build two Voith Schneider Tractor Tugs. This is a portion of a contract that Lockheed Martin signed with the Egyptian Ministry of Transport earlier this month. Lockheed has released funding for design and planning at this time, with details on the remainder of the project to be finalized later. The project is expected to take twenty-six months to complete. Anil Raj, Chief Operating Officer for Friede Goldman Halter said, “The partnership between Halter Marine and Lockheed is added confirmation that demand for quality vessels produced by Halter continues to grow internationally.
Freedom (LCS 1) Begins Builder's Sea Trials
The nation's first Littoral Combat Ship, Freedom (LCS 1) was put to sea for the first time, marking the beginning of Builder's Sea Trials for the first-in-class coastal surface combatant. The 378-ft. Freedom, designed and built by a Lockheed Martin Lockheed Martin Corporation-led industry team, is conducting Builder's Sea Trials in Lake Michigan. The trials -- which are a coordinated effort between the U.S. Navy and the Lockheed Martin team -- will include operational testing of the vessel's propulsion, communications, navigation and mission systems, as well as all related support systems.
Navy Terminates Lockheed Martin LCS Contract
The U.S. Navy Thursday said it was canceling a widely criticized Lockheed Martin Corp. contract to build a next-generation combat ship after negotiations to control cost overruns failed. Lockheed Martin Corporation expressed disappointment over the U.S. Navy's decision to terminate its contract for construction of the second of two new Littoral Combat Ships (LCS.) The Navy announced the action at the expiration of a 90-day stop work order imposed on the second ship in January to allow the service time to review costs associated with construction of the first LCS. On March 15, Navy Secretary Donald Winter announced that the stop work order would be lifted only if Lockheed Martin agreed to accept a fixed price incentive contract for its second ship.
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 design contract, awarded to the Lockheed Martin (NYSE:LMT) team in May 2004. The Lockheed Martin team will begin construction of the lead ship at Marinette Marine in Marinette, WI, in the first quarter of 2005 and deliver it to the U.S. Navy in late 2006. The team is using common tools and proven processes to ensure a seamless transition from design to construction for on-time and on-budget delivery. "We are honored to partner with the U.S.
Lockheed Martin Team Gets $198m for Construction of LCS
The U.S. Navy awarded a Lockheed Martin-led team nearly $198m for construction of the Navy's third Littoral Combat Ship (LCS). This is the second LCS awarded to the Lockheed Martin team. The Lockheed Martin team will begin construction in the first quarter of 2007 at Bollinger Shipyards in Lockport, LA. The ship will be delivered to the U.S. Navy in 2009. The U.S. Congress authorized and appropriated the funds for this additional ship in the fiscal year 2006 Department of Defense Appropriations Act. Bollinger Shipyards has already played an active role in the LCS program. Bollinger constructed one of the ship's stern modules, giving…
Lockheed Martin Consolidates Planning and Reporting With Hyperion
reporting system for its Maritime Systems and Sensors (MS2) group. financial planning and reporting across MS2's multiple lines of business. its planning and reporting time-consuming and inefficient. others -- and provide an integrated solution for planning and reporting. reports to more than 1,000 users at Lockheed Martin. locations. finance manager for Lockheed Martin. processes for planning and reporting. metrics that ultimately drive performance. users, who have varying requirements. analysis," said Airhart. January 2005 with additional enhancements into 2006.
US Marine Repair Joins Lockheed Martin LCS Team
The Lockheed Martin LCS Team is adding United States Marine Repair to its group of core teammates supporting the Sea Blade LCS solution. Using an open business model, the Lockheed Martin LCS Team is recruiting "best of breed" technical specialists from the U.S. and overseas in its bid to win this important transformational Navy program. "A key focus of Lockheed Martin's LCS proposal is to find the best companies, in the U.S. and abroad, to deliver to the Navy the most affordable and effective ship possible," said Fred Moosally, president of Lockheed Martin's Naval Electronics & Surveillance Systems. "Our team is harnessing world class expertise in a wide range of disciplines. United States Marine Repair provides ship repair and logistics services experience to the team.
Lockheed, Acacia Research Serve Australian Navy
Lockheed Martin Australia of Canberra and Acacia Research, Ltd. of Adelaide are teaming to pursue the combat system integrator role for the Royal Australian Navy's Future Submarine project, SEA 1000. Under this Department of Defence project, 12 next-generation submarines are envisioned to replace Australia's six existing Collins-class boats. SEA 1000 is expected to be the Australian government's largest-ever single defence project. Under the teaming arrangement, Lockheed Martin Australia will lead overall management of the program pursuit. Following contract award, it would develop and integrate an advanced combat system for the new submarine class, serving as the prime contractor and systems integrator. Acacia Research will be a principal team member.
Lockheed Martin Awarded $186m Contract to Upgrade P-3C
The U.S. Navy's Naval Air Systems Command has awarded Lockheed Martin a $186.5m Foreign Military Sale contract to continue providing mission system upgrades and sustainment work for seven P-3C Orion maritime surveillance aircraft for the Islamic Republic of Pakistan. Lockheed Martin will continue to support the Pakistan Navy's P-3C Upgrade Program, which began in March 2006. Lockheed Martin has delivered one upgraded surveillance aircraft, which was inducted into the Pakistan Navy in January. A second aircraft is expected to join the fleet in March. The modified P-3Cs will further enhance the Pakistan Navy's capabilities to conduct maritime surveillance in littoral and deep water environments, supporting anti-ship and anti-submarine warfare operations.
Lockheed Martin Wins $17.4M Contract
Lockheed Martin Corp. won a $17.4 million contract from the Navy to support a program that oversees all technical products for submarine combat systems. Under the contract, Lockheed Martin of Bethesda, Md., will handle systems engineering, testing, integration and maintenance for Navy submarine combat systems, as well as new Virginia Class submarines. The contract, which is funded for the first year, includes options for up to 10 years. Lockheed Martin’s team includes General Dynamics Electric Boat, Anteon International Corp., Progeny Systems Corp., Gryphon Technologies LC, Assett Inc., and North Carolina A&T State University. (Source: Washington Technology)
News: VTS System Aims to Increase Port Security
By implementing Lockheed Martin's Vessel Traffic Service system, the Coast Guard will be able to survey vessels by identifying, tracking and monitoring all ships transiting port areas, including the Port of New York and New Jersey which handles nearly 66 million tons of cargo each year. The VTS system aims to support the Coast Guard's maritime safety and environmental protection mission, as well as servicing with its Homeland Security responsibilities. On February 25, the U.S. Coast Guard authorized Lockheed Martin to begin installation of three VTS systems Under the Ports and Waterways Safety System (PAWSS) contract. Originally awarded by the Coast Guard in 1998, Lockheed Martin will install the VTS systems in New York Harbor, and in the Ports of Houston/Galveston and Port Arthur, Texas.
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., 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.