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Lockheed Gets $846M Modification on Navy Strike Weapon System Dev’t Contract

Lockheed Martin (NYSE: LMT) has received an $846M modification under an un-priced letter contract to design, build and integrate technologies needed for a demonstration of the U.S. Navy’s Intermediate Range Conventional Prompt Strike Weapon System.

The company’s space business will provide large diameter rocket motors, missile body flight articles and support equipment for the system’s flight tests, the Department of Defense said Tuesday.

The Navy will obligate $87M in fiscal 2018 and fiscal 2019 research, development, test and evaluation funds at the time of award.

Work under the modification will take place in Littleton, Colo., through Jan. 1, 2024.

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