Lockheed to Provide $131M Management Services to U.S. Navy

TYSONS CORNER, VA, March 11, 2016 ” Lockheed Martin and partner Michelin North America will manage the U.S. Navy™s naval aviation tires under a potential four-year, $131 million contract, ExecutiveBiz reported Thursday.

The two companies worked together on the initial contract which resulted in the delivery of more than 440, 000 tires over the fourteen year life of the contract.

The current contract has a three year base worth $52 million with options for two six month periods and for F-35 tires, bringing the total potential contract value to $131 million.

The company said Wednesday its supply chain management system aims œto decrease the amount of warehouse inventory by 80 percent, said Laura Frank, vice president of integrated test and logistics at Lockheed™s mission systems and training unit.

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