December 18 Market Close: GovCon Index Soars 2%, Scales 70-Point Mark

GovConIndex
The GovCon Index reached the 70-point barrier for the first time in eight trading days with an increase of 2.446 percent — or 1.761 points — to close at 70.214 on Thursday. Only one company in the index recorded a loss and the remaining 29 all saw increases in a day that saw the S&P 500 composite index make its biggest one-day climb since November 2011 and the Dow Jones Industrial...

Joe North: Lockheed to Extend MK 41 Launch System Production for Navy

lockheed martin
Lockheed Martin (NYSE: LMT) will continue to produce MK 41 Vertical Launch Systems and provide spare parts management services to the U.S. Navy through 2022 under a potential $356 million contract. The company said Monday the contract covers VLS launch control units and mechanical structure as well as final assembly, test and repair services, which the company will perform in Baltimore. “We...

Poland to Buy Lockheed Standoff Missiles for F-16 Fleet

JASSM Joint Air-to-Surface Standoff Missile
The government of Poland has signed a contract to purchase Lockheed Martin‘s (NYSE: LMT) Joint Air-to-Surface Standoff Missiles, associated tools and training for the country’s F-16 aircraft fleet. Poland’s national defense ministry said Thursday the contract with the U.S. government includes tools to aid JASSM’s integration with the aircraft, pilot and ground crew training...

Army Issues Final RFP on Humvee-Replacement Vehicles

JLTV
The U.S. Army is seeking proposals for the production of 17,000 Joint Light Tactical Vehicles for the Army and U.S. Marine Corps under a potential firm-fixed-price contract, Defense News reported Friday. Joe Gould writes that Lockheed Martin (NYSE: LMT), AM General and Oshkosh Defense (NYSE: OSK) are among the companies that could submit proposals. JLTV Project Manager Col. John Cavedo Jr. said...

Barbara Humpton Promoted to COO at Siemens’ US Federal Org; Judy Marks Comments

Barbara Humpton
Barbara Humpton Barbara Humpton, formerly senior vice president of business development for Siemens‘ U.S. federal business organization, has been promoted to the newly-created position of chief operating officer. She will lead efforts to identify new business opportunities and land new work in the federal market for Siemens Government Technologies, Siemens said Thursday. Judy Marks, president...

Lockheed Completes Systems Made Simple Buy

acquisition
Lockheed Martin has completed its acquisition of health information technology provider Systems Made Simple for an undisclosed amount as part of a strategy to grow government health IT offerings. The acquisition opens for Lockheed business opportunities with an IT modernization contract vehicle Systems Made Simple holds with the Department of Veterans Affairs, Lockheed said Tuesday. Nearly 430...

Bridget Lauderdale Named Lockheed Corporate Strategy, BD SVP; Marillyn Hewson Comments

Bridget Lauderdale (pictured left)
Bridget Lauderdale (pictured left) Bridget Lauderdale, vice president and general manager of aeronautics operations at Lockheed Martin (NYSE: LMT), will take a new role as SVP for corporate strategy and business development and a corporate officer of the company. Lauderdale will start in her new position on Jan. 1, 2015 and be responsible for new business capture and development functions, Lockheed...

State Dept. OKs Proposed Iraq Purchase of Lockheed C-130E/J Sustainment Package

AC130J
The State Department has approved Iraq’s request to purchase equipment, parts and associated training, logistics and sustainment services for Lockheed Martin‘s (NYSE: LMT) C-130E/J aircraft under a potential five-year, $800 million contract. The Defense Security Cooperation Agency said Wednesday that the proposed foreign military sale includes maintenance, documentation, spare and repair...

Lockheed Gets Initial UK F-35B Order

F35
The U.K. defense ministry has placed an initial production order for four Lockheed Martin (NYSE: LMT) F-35B fighters. The agency said Monday the British government plans to buy a total of 14 F-35Bs during the next five years and build the necessary infrastructure to accommodate the fleet. Lockheed will build the four jets to operate from Royal Air Force stations and Royal Navy aircraft carriers. A...

Report: Pentagon, Lockheed Close $4.7B Deal for Lot 8 F-35 Jets

F-35
Lockheed Martin (NYSE: LMT) and the U.S. Defense Department have closed on a $4.7 billion contract for the eighth lot of low-rate initial production F-35 fighters, DoD Buzz reported Friday. Kris Osborn writes Lockheed will build 29 F-35s for the U.S. Air Force, Navy and Marine Corps and another 14 for U.S. partner nations Israel, Japan, Italy, Norway and the U.K. DoD has signed a separate contract...