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Navy/USMC

Navy Funds Four Littoral Combat Ships

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The Navy has issued awards to Lockheed Martin [LMT] and Austal USA for the construction of four Littoral Combat Ships (LCS) for a combined $1.4 billion. The contract modifications fund the Little Rock (LCS-9) and Sioux City (LCS-11) to be built by Lockheed Martin at a cost of $715 million, and Austal’s USA’s Gabrielle Giffords (LCS-10) and Omaha (LCS-12) for $691.6 million, Naval Sea Systems Command (NAVSEA) said. The Navy is in the process of purchasing 20 of ships designed…

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