Lockheed Martin Team Approved to Begin Detail Design and Construction on First Littoral Combat Ship.
PR Newswire Europe, December, 2004
WASHINGTON, December 15 /PRNewswire/ -- The U.S. Navy today awarded a Lockheed Martin-led team US$ 188.2 million to commence detail design and construction of the first Littoral Combat Ship (LCS), a revolutionary new class of naval combatant designed to dominate the world's coastal waters. The option was exercised under the LCS final system design contract, awarded to the Lockheed Martin (NYSE: LMT) team in May 2004.
The Lockheed Martin team will begin construction of the lead ship at Marinette Marine in Marinette, WI, in the first quarter of 2005 and deliver it to the U.S. Navy in late 2006. The team is using common tools and proven processes to ensure a seamless transition from design to construction for on-time and on-budget delivery.
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