Lockheed, Austal Awarded Navy Littoral Warship Contract Modifications; Joe North Comments

Littoral-Combat-ShipAustal USA and Lockheed Martin (NYSE: LMT) have received contract modifications for each company to build two more Littoral Combat Ships for the U.S. Navy, USNI News reported Wednesday.

Megan Eckstein writes the military service awarded Lockheed approximately $362 million for the construction of one LCS and about $79 million in advance procurement funds for another unit.

“The $79 million is allowing us to procure the equipment we need… so getting the second ship awarded by Dec. 31 allows us to maintain the production schedule for the second ship, ” Joe North, Lockheed vice president of littoral ship systems, told USNI News.

Austal was awarded $691 million to construct the two additional warships, according to the report.

Both modifications fall under a pair of five-year, 10-ship block buy contracts and contain an option for an 11th LCS ship in fiscal 2016, Eckstein writes.

Check Also

Norm Tew VP and GM Boeing

Boeing Submits Bid for Next-Generation Interceptor Program; Norm Tew Quoted

Boeing (NYSE: BA) has submitted its proposal for the Missile Defense Agency’s Next-Generation Interceptor program and offered a design that builds on the company's six decades of experience in weapons systems and strategic missile development.


Deloitte to Help DoD Create AI Dev’t Environment Under $106M Task Order

Deloitte Consulting has received a potential four-year, $106.4M task order to provide a development environment for the Department of Defense's Joint Artificial Intelligence Center to test, validate and implement AI-based tools.