Author: Brenda Marie Rivers|| Date Published: April 29, 2019
Lockheed Martin™s (NYSE: LMT) rotary and mission systems business secured a potential $201.7M contract to provide engineering services to the U.S. Navy.
The sole-source, cost-plus-fixed-fee contract has a face value of $26.9M and will reach its potential value if the service branch exercises all options, the Department of Defense said Friday.
The Navy will obligate $5.2M in fiscal 2018 and 2019 other procurement and research, development, test and evaluation funds at the time of award.
Sixty-eight percent of contract work will take place in Manassas, Va., and the rest in Connecticut and Rhode Island.
The Pentagon expects the company to finish work by December 2025.
Lockheed Martin™s (NYSE: LMT) rotary and mission systems business secured a potential $201.7M contract to provide engineering services to the U.S. Navy.
