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Kenneth Possenriede to Succeed Bruce Tanner as Lockheed EVP, CFO; Marillyn Hewson Quoted

Kenneth Possenriede, a more than 30-year Lockheed Martin (NYSE: LMT) veteran, has been named executive vice president and chief financial officer of the company in a move that will take effect Feb. 11. He will succeed the retiring Bruce Tanner, a 37-year company executive who served as CFO for more …

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Lockheed Awards Grant to Orlando’s Valencia College for 2nd Advanced Manufacturing Training Hub

TYSONS CORNER, VA, December 4, 2018 — Lockheed Martin (NYSE: LMT) has placed an investment of $300K with Valencia College in Orlando to establish an advanced manufacturing training center that is aimed to produce the city’s future high-technology workers, ExecutiveBiz reported Monday. The company said Friday the funds are part of …

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MDA Taps Lockheed for $240M Simulation Framework Development Contract

Lockheed Martin (NYSE: LMT) has landed a potential five-year, $240M contract to help the Missile Defense Agency develop, apply and sustain a modular objective simulation framework for ballistic missile defense systems. MDA will obligate $1.7M in fiscal 2018 research and development funds to finance initial activities under the contract’s first task …

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Lockheed Receives $349M Navy Contract to Build F-35 Developmental Lab, Flight Test Infrastructure

Lockheed Martin (NYSE: LMT) has secured a potential $348.9M contract to provide infrastructure for F-35 developmental laboratories and flight tests. The infrastructure will support the fighter aircraft program’s development, production and sustainment efforts, the Defense Department said Thursday. DoD noted the cost-plus-incentive-fee contract combines purchases from the Navy, U.S. Marine Corps, U.S. Air Force …

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USAF Awards Lockheed $172M Contract for Lot 2 Long-Range Anti-Ship Missiles

The U.S. Air Force has awarded Lockheed Martin (NYSE: LMT) a potential three-year, $172.1M to manufacture a second batch of Long-Range Anti-Ship Missiles. Lockheed’s missiles and fire control business will build 50 lot 2 LRSMs for the military service at a contractor facility in Orlando, the Defense Department said Thursday. The Pentagon expects the …

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Lockheed to Build MH-60R Helicopters for Navy Under Potential $382M Contract

Lockheed Martin (NYSE: LMT) has secured a potential two-year, $382M contract to manufacture and deliver eight MH-60R Seahawk multimission helicopters to the U.S. Navy. The company will also provide program management and systems engineering services as part of the firm-fixed-price and cost-plus-fixed-fee contract, the Defense Department said Wednesday. The Navy will …

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Lockheed Gets $22.7B Modification on Lot 12 F-35 Aircraft Production, Delivery Contract

Lockheed Martin‘s (NYSE: LMT) aeronautics business has received a $22.71B contract modification to build and deliver 255 lot 12 F-35 aircraft to domestic and international military clients. The U.S. Navy awarded the modification for the company to manufacture 106 F-35 units for the U.S. military; 89 units for non-Defense Department users; …

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Lockheed Gets $350M Modification for JASSM Life Cycle Support

Lockheed Martin (NYSE: LMT) has landed a $350M modification to an existing production support indefinite-delivery/indefinite-quantity contract for the U.S. Air Force‘s Joint Air-to-Surface Standoff Missile. The company will provide logistics, integration, production, sustainment, system updates and management support for all JASSM variants including the Long Range Anti-Ship Missile and the JASSM-Extended …

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Lockheed Gets $130M Modification for F-35 Pre-Modernization Support

The U.S. Navy has awarded a $130.4M contract modification to Lockheed Martin‘s (NYSE: LMT) aerospace business for decomposition and design efforts in preparation for F-35 Block 4 modernization. The company will work to help the aircraft meet weapon and air system requirements corresponding to Block 4.1 standard, the Defense Department said …

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Lockheed, MDA Test Latest Aegis Combat System Against Medium-Range Missile

TYSONS CORNER, VA, October 31, 2018 — Lockheed Martin (NYSE: LMT) and the Missile Defense Agency have completed a demonstration of the company’s updated Aegis Combat System designed to counter medium-range ballistic missile threats, ExecutiveBiz reported Monday. The company said Friday the at-sea Flight Test Standard Missile–45 activity served to showcase the Aegis Baseline …

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