Print Edition

  Email News Updates

Navy awards Lockheed $185M contract that could be worth up to $812M

By Eric Reinhardt

Date:

The U.S. Navy has awarded the Salina plant of Lockheed Martin Corp. (NYSE: LMT) a $185 million contract for electronic-warfare equipment to protect ships from missiles. The contract could be worth as much as $812 million, according to the website of the U.S. Department of Defense. (Eric Reinhardt / CNYBJ file photo)

SALINA, N.Y. — The U.S. Navy has awarded Lockheed Martin Corp. (NYSE: LMT) a $185 million contract for electronic-warfare equipment for missile protection that could be worth as much as $812 million.

It’s part of the surface electronic warfare improvement program, or SEWIP.

SEWIP provides “enhanced shipboard electronic warfare for early detection, analysis, threat warning and protection from anti-ship missiles,” per the U.S. Department of Defense (DOD) website that lists contract awards.

Lockheed Martin is a Bethesda, Maryland–based defense contractor, with upstate New York manufacturing plants in Salina and Owego.

The firm’s employees in Salina will perform most of the work on this contract, while Lockheed workers in Lansdale, Pennsylvania will handle about 20 percent of the work, per the DOD website. The Navy expects the defense contractor to finish work on the contract by April 2022.

This pact includes options, which if exercised would bring the cumulative value of the contract to more than $812 million and would be completed by September 2026 — if all options are exercised.

Contact Reinhardt at ereinhardt@cnybj.com

Thank You For Visiting CNYBJ.com