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Lockheed Wins $61M to Update Navy Helicopter Weapons, Electronics

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Lockheed Martin Corp. (NYSE: LMT) has received a $61, 425, 658 basic ordering agreement from the U.S. Navy to update assemblies for the branch’s MH-60 helicopter fleet.

The Defense Department said the company will update weapons and replacement assemblies used in the helicopter’s cockpit.

The Bethesda, Md.-based contractor will also upgrade the electronic support measurement receiver processor and the organic airborne mine counter measure.

The Pentagon expects work to finish by April 19, 2015 and the Naval Supply Systems Command’s weapon systems support office in Philadelphia is the contracting activity.

The Navy recently awarded Lockheed a $1.05 billion contract for digital cockpits, mission systems and sensors for helicopters.

Congress approved that five-year contract and required it to provide double-digit cost savings to the Pentagon.

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