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Lockheed Installing, Testing Navy Aegis Systems For $1B

LockheedLogoLockheed Martin (NYSE: LMT) will install ballistic missile defense systems on three U.S. Navy destroyers under a potential $1, 316, 430, 438 Missile Defense Agency contract.

The contract reached that value as the company won a $30, 226, 670 modification under a previously-awarded sole-source-cost-plus-incentive-fee/cost-plus-award-fee contract, the Defense Department said Thursday.

This modification covers install, test, and checkout of the Aegis Ballistic Missile Defense Baseline 4.0.1 Weapon System on three destroyers through March 15, 2015.

For this effort, MDA is allocating fiscal 2013 research, development, test and evaluation funds and no funds will expire at the end of the current fiscal year.

Work will occur in San Diego; Moorestown, N.J.; Pearl Harbor, Hawaii; and Norfolk, Va.

Lockheed also is providing MDA engineering work for the Aegis Ashore program under a contract worth nearly $197 million as of June 2012.

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