Apr 15, 2014 ASDNews Source : Lockheed Martin Corporation
Operational readiness of the U.S. Navy’s MK-48 heavyweight torpedo inventory will continue to be ensured by Lockheed Martin [NYSE: LMT]. The Naval Sea Systems Command (NAVSEA) awarded Lockheed Martin a contract option worth approximately $10 million to support the Navy’s intermediate-level maintenance activities for all MK-48 torpedoes. This is the first option exercised from a contract awarded in 2013 and brings the total contract value to more than $18 million.
“The key to this program’s success is our strong partnership with the U.S. Navy," said Dr. Rob Smith, vice president of C4ISR for Lockheed Martin Information Systems & Global Solutions. “Working in unison, our teams established a diligent process that ensures reliability and helps reduce life cycle costs for the Navy's torpedo enterprise.”