Lockheed Martin Corp wins $17 million from a Navy contract for engineering on Navy Missile Launch Systems. Lockheed Martin Corp. trades on the “New York Stock Exchange” under the stock symbol “LMT”. For the Latest information regarding “LMT”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Lockheed Martin Corp. (NYSE:LMT) said Wednesday it recently won a $17 million Navy contract for engineering on Navy Missile Launch Systems, and with options it could be worth $104 million over four years. The contract covers costs plus a fixed fee. It combines purchases for the U.S. Navy and eight allied navies. Lockheed said the work will be done on MK 41 vertical launching systems on the U.S. Navy's Ticonderoga-class cruisers and Arleigh Burke-class guided missile destroyers. Work will take place in Baltimore and Ventura, Calif.
Lockheed shares rose 41 cents to $82.63 in afternoon trading.
About Lockheed Martin Corp:
Lockheed Martin Corporation engages in the research, design, development, manufacture, integration, operation, and sustainment of advanced technology systems and products in the United States and internationally. The company also provides management, engineering, technical, scientific, logistic, and information services. It operates in four segments: Aeronautics, Electronic Systems, Information Systems & Global Services (IS&GS), and Space Systems. The Aeronautics segment provides military aircraft, including combat and air mobility aircraft, unmanned air vehicles, and related technologies. Its products and programs include the F-35 Lightning II Joint Strike Fighter-multi-role coalition fighter, the F-22 Raptor-air dominance attack and multi-mission stealth fighter, the F-16 Fighting Falcon-multi-role fighter, the C-130J Super Hercules tactical transport aircraft, and the C-5M Super Galaxy strategic airlift aircraft. This segment also supports P-3 Orion maritime patrol aircraft and U-2 Dragon Lady high-altitude reconnaissance aircraft. The Electronic Systems segment offers air and missile defense; tactical missiles; weapon fire control systems; surface ship and submarine combat systems; anti-submarine and undersea warfare systems; land, sea-based, and airborne radars; surveillance and reconnaissance systems; simulation and training systems; and integrated logistics and sustainment services. The IS&GS segment provides federal services; information technology solutions; software and systems engineering support services; logistics, mission operations support, peacekeeping, and nation-building services for the various U.S. defense and civil government agencies. The Space Systems segment produces government and commercial satellites; strategic and defensive missile systems, including missile defense technologies and systems, and fleet ballistic missiles; and space transportation systems. Lockheed Martin Corporation was founded in 1909 and is based in Bethesda, Maryland.
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