The U.S. Navy has awarded $279 million in funds to an industry team led by Lockheed Martin (NYSE: LMT) for the construction of the future littoral combat ship USS Cooperstown.
Lockheed said MondayÂ the funds add to the $79 million advanced procurement budget that Congress granted in March for the Freedom-variantÂ LCS 23.
The company’s partners in the team areÂ Fincantieri Marinette Marine andÂ Gibbs & Cox.
Joe North, vice president of littoral ships and systems at Lockheed’s mission systems and training, noted they have already delivered threeÂ Freedom-variant LCS vessels to the Navy.
The service branch commissioned USS Milwaukee (LCS 5) into active service last month.