Lockheed Wins EMD Phase of Potential $5B Army Humvee Replacement Program

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Lockheed Martin (NYSE: LMT) has won an engineering and manufacturing development contract for a new U.S. Army ground vehicle, the Army announced Wednesday on FedBizOpps.

Including Lockheed, the Army awarded approximately $176 million in EMD contracts for 27 months of work on the Joint Light Tactical Vehicle, with Lockheed receiving $66, 319, 507.

Previous reports indicate the total value of the JLTV program, designed to replace aging Humvees used by the Army and Marines, could come to $5 billion.

According to the Army Contracting Command, each of the awards are incrementally funded, firm-fixed price contracts with base  efforts capped at $65 million.

Contract values also contain an evaluated, unexercised level of effort option price.

Balance of the funding, up to full base contract amount, will be provided in fiscal years 2013 and 2014, the command said.

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