Author: Joanna Crews|| Date Published: March 6, 2018
Lockheed Martin (NYSE: LMT) has received a $481.2 million contract from the U.S. Navy to obtain long-lead-item materials the company will need to build four multimission surface combatant ships for Saudi Arabia.
MMSC is designed to support littoral and open-ocean missions, the Defense Departmentsaid Monday.
The Naval Sea Systems Command is the contracting activity and will obligate $240.6 million in foreign military sales funds at the time of award.
NAVSEA did not conduct a competitive procurement for the contract in accordance with the terms of an agreement between the U.S. and Saudi Arabia.
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Lockheed Martin (NYSE: LMT) has received a $481.2 million contract from the U.S. Navy to obtain long-lead-item materials the company will need to build four multimission surface combatant ships for Saudi Arabia.
