Lockheed Martin Canada Awarded $22.3M Contract to Provide Live Fire Target Training for Canadian Army

OTTAWA, ONTARIO--(Marketwire - March 29, 2011)

Building on its long-term partnership with the Canadian Army, Lockheed Martin (NYSE:LMT) has been awarded a five-year, C$22.3 million contract to provide support services for its live-fire, battle field training systems that prepare soldiers for future combat missions. "Winning this competition validates our performance over the past 14 years," said Tom Digan, president of Lockheed Martin Canada. "This system is critical to the training of combat-ready forces. We are proud of the work we have done and appreciate the opportunity to continue our long-term relationship with the Army." The Lockheed Martin Direct Fire Targetry system is a suite of interoperable, remotely controlled, static and moving targets operated at Canadian Forces Bases Gagetown, Valcartier, Petawawa and Wainwright. The targets simulate vehicles, infantry, hostile fire and a wide range of artillery and other weapons and threats. The system extends beyond conventional weapons training by providing a target system that utilizes live ammunition in a controlled environment. Lockheed Martin is the original equipment manufacturer and has been prime contractor for the program since 1997. This latest contract extends the period of performance to at least 2016 with options that could extend to 2018.