Lockheed Wins Potential $206M Aegis Logistics Follow-On

Lockheed Martin (NYSE: LMT) has won a potential $206,882,540 follow-on contract to provide the U.S. Navy with logistics packages and production baseline updates for a missile defense system.

The Defense Department said the contract also includes foreign military sales for Aegis Weapon System spare and repair material support.

Those potential customers are unknown at this time, according to the Pentagon.

Eighty-one percent of work under the cost-plus-award-fee and cost-plus-fixed-fee contract will occur in Moorestown, N.J. with the rest in Mount Laurel.

The Pentagon expects work to finish by June 2017 and the Naval Sea Systems Command in Washington is the contracting activity.

Lockheed’s contract with the Missile Defense Agency for Aegis Ashore engineering work is now worth an estimated $197 million.

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