22 May 2014
Lockheed Martin (NYSE: LMT) recently received two contracts totaling USD34.3m from the US Navy and Royal Canadian Air Force for enhanced laser guided training rounds production.
A USD21.8m US Navy follow-on contract represents the second order of ELGTRs against a four-year indefinite delivery/indefinite quantity (IDIQ) contract received in 2013. Under the follow-on contract, Lockheed Martin will provide ELGTRs, logistics support and associated technical data to the Navy, extending ELGTR production into 2017.
Additionally, Lockheed Martin received a USD12.5m ELGTR production contract from Public Works and Government Services Canada on behalf of the Royal Canadian Air Force. Under this four-year fixed-price direct commercial sale contract, Lockheed Martin will provide ELGTRs to the Royal Canadian Air Force beginning in 2014. The contract includes two options to extend production deliveries into 2020. The Royal Canadian Air Force first purchased LGTR/ELGTR in 1996.
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. Its website is at http://www.lockheedmartin.com