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Lockheed to Provide Navy with Signal Processing, Missile Defense Equipment

Lockheed Martin (NYSE: LMT) has won a $43, 867, 055 contract modification to provide signal processor and missile defense equipment to the U.S. Navy, the Defense Department said Friday.

The company’s mission systems and sensors unit will also provide spares and engineering services for USS Arleigh Burke, USS Mitscher and USS Milius.

Seventy-four percent of work will occur in Moorestown, N.J. with the rest Clearwater, Fla. and Akron, Ohio through June 2015.

The Navy is obligating all contract funds at the time of award and no funds will expire at the end of this fiscal year.

Naval Sea Systems Command in Washington is the contracting activity.

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