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Lockheed Martin Upgrading SeaFox Mine Neutralizer

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Lockheed Martin [LMT] is in the middle of upgrading mine neutralization systems for naval operations in the Middle East and expects to complete the task next year. The Navy recently awarded Lockheed Martin a $45.6-million contract to upgrade the Atlas SeaFox mine neutralized for the service’s Bahrain-based Fifth Fleet. “The effort is currently underway and is expected to be completed by March of 2013,” said Frank Drennan, Lockheed Martin’s director of advanced programs for mission and unmanned systems. The upgrades…

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