The Navy Monday awarded Lockheed Martin [LMT] a $279 million contract modification to a previously awarded F-35 low rate initial production (LRIP) Lot 6 contract, according to a Defense Department statement.
The modification provides for non-recurring sustainment activities, to include procurement of Depot Phases I-IV sustainment activities. Work is expected to be completed by October 2018. Fiscal year 2012 aircraft procurement (Navy and Air Force) funds and international partner funds in the amount of $279 million will be obligated at the time of award, $237 million of which will expire at the end of the current fiscal year.
