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Lockheed CEO Stevens on New $3.6 Billion Ship Deal

Lockheed Martin (NYSE: LMT) picked up a fixed-price-incentive-fee contract from the Navy worth a potential $3.6 billion to construct up to 10 Littoral Combat Ships (LCS).

The contract includes options that carry through 2015.

“The Lockheed Martin team’s Littoral Combat Ship is designed to confront rapidly changing global threats while providing a cost-effective solution in an era of tight budgets, ” said Lockheed Martin Chairman and CEO Bob Stevens. “This team’s strong performance will enable the Navy to deploy a class of affordable, multi-mission combatants to address the nation’s needs for decades to come.”

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