Lockheed to Produce Four Maritime Helicopters Under $194M Navy FMS Contract

The U.S. Navy has awarded Lockheed Martin (NYSE: LMT) a potential $194M contract modification to build four MH-60R Seahawk maritime helicopters for Greece under a foreign military sales agreement.

The award includes a $14M exercised option for the provision of three airborne low-frequency sonars to the Greek government and initial obligated funds amounting to $44M, the Department of Defense said Monday.

DoD expects the company to finish contract work by February 2025.

Greece requested to procure up to seven MH-60Rs along with support equipment and services from the U.S. government through a $600M FMS transaction the State Department cleared in July 2019.

Seahawk helicopters are built to deploy from frigates, destroyers, cruisers and aircraft carriers to perform anti-submarine and anti-surface warfare missions.

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