Lockheed-Led Team Receives $279M From Navy to Fund USS Cooperstown

Littoral-Combat-ShipThe 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 Monday the funds add to the $79 million advanced procurement budget that Congress granted in March for the Freedom-variant LCS 23.

The company’s partners in the team are Fincantieri Marinette Marine and Gibbs & Cox.

Joe North, vice president of littoral ships and systems at Lockheed’s mission systems and training, noted they have already delivered three Freedom-variant LCS vessels to the Navy.

The service branch commissioned USS Milwaukee (LCS 5) into active service last month.

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