SALINA, N.Y. — The U.S. Navy has awarded Lockheed Martin Corp.’s (NYSE: LMT) Rotary and Mission Systems unit in the Syracuse area a $19.3 million contract modification to obtain masts for submarine hulls.
The Navy is exercising its option to procure eight multi-function modular masts for new construction Virginia-class submarine Block V hulls, according to a Jan. 15 U.S. Defense Department contract announcement.
Work will be performed at Lockheed’s plant in the town of Salina (30 percent) and a factory in Nashua, New Hampshire (70 percent), the department said. Work is expected to be completed by September 2023.
(Sponsored)
The Importance of a Quality of Earnings Study
Are you planning to buy a business or sell your own business? If yes, then it is highly recommended to get a Quality of Earnings (QoE) study done. A QoE
How Technology Management Can Expedite Your Business Growth
Many business leaders find themselves asking the same question: “How do I foster growth for my company?” The answer typically yields many paths and variables both controllable and uncontrollable. Technology
Fiscal 2020 shipbuilding and conversion (Navy) funding totaling $19,330,296 will be obligated at time of award and will not expire at the end of the current fiscal year, per the announcement. The Naval Sea Systems Command in Washington, D.C., is the contracting authority.
Contact Rombel at arombel@cnybj.com
BJNN file photo by Eric Reinhardt
