Contract Awards

Lockheed Reports Accelerated Progress Payments to Defense Suppliers

Lockheed Martin (NYSE: LMT) has distributed $450M in accelerated contract payments it received from the Department of Defense to the Bethesda, Md.-based contractor's supply chain ahead of schedule. The company said Friday it also issued $85M in advance payments to small businesses and other suppliers operating throughout 46 U.S. states.

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Pentagon Signs $126M Contract to Increase 3M Mask Production Capacity

The Department of Defense has awarded 3M (NYSE: MMM) a $126M contract to increase the company's monthly production of medical-grade masks for COVID-19 response. Lt. Col. Mike Andrews, a DoD spokesman, said in a statement posted Wednesday the company will work to produce 26M N95 masks every month beginning in October.

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