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Lockheed Team Wins $715M to Build Third, Fourth Littoral Ships

Lockheed Martin Corp. (NYSE: LMT) and two industry partners won a $715 million U.S. Navy contract modification to build two combat ships, the company announced Friday.

The Little Rock and Sioux City are the third and fourth ships to be built under a 10-ship contract awarded in December 2010.

This program’s first two ships, the Milwaukee and Detroit, are currently under construction.

The team built the Freedom and Fort Worth under a previous contract.

The Freedom will be deployed upon completion of preparation and Lockheed expects the Navy to commission the Fort Worth in September.

The team includes shipbuilder Marinette Marine Corp. and naval architect Gibbs & Cox of Arlington, Va.

Marinette Marine will help build the ships in Marinette, Wis. and Gibbs & Cox will provide engineering.

More than 700 companies in 43 states are working on the Freedom-variant Littoral Ship program.

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