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Navy/USMC

Lockheed Wins Two Submarine Contracts Worth $101 Million Total

Rich Abott By
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Lockheed Wins Two Submarine Contracts Worth $101 Million Total

The U.S. Navy awarded Lockheed Martin [LMT] $101 million combined in two contract actions for previously awarded contracts in support of submarine systems, according to Wednesday Defense Department announcements.The company won a firm-fixed-price undefinitized contract action (UCA) modification for up to $71 million as part of a previously awarded contract for electronic warfare equipment in support of Virginia-class submarines. The UCA is expected to be definitized by Feb. 2018.Contracted work will largely occur in Syracuse, N.Y., and Fairfax, Va., with an…

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