Lockheed Martin gets USD84m Navy contract

9 January 2014

Lockheed Martin (NYSE: LMT) said it has received an USD84.5m contract from the US Navy to produce paveway II Enhanced Laser Guided Training Rounds (ELGTR).

Under the four-year indefinite-delivery indefinite-quantity contract, Lockheed Martin will deliver ELGTRs, shipping containers, logistics and product support to the US Navy.

This contract extends delivery of ELGTRs to the US Navy through 2018. Lockheed Martin has produced advanced training solutions for the US Navy, Marine Corps and international customers since Laser Guided Training Round production began in 1992, and has delivered more than 130,000 training rounds to date.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services.

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