$1.4B Navy Ship Contracts Go To Lockheed, Australian Co.

Law360, Los Angeles (March 11, 2014, 3:21 PM EDT) -- The U.S. Navy announced Monday it has awarded nearly $1.4 billion in contract modifications to a Lockheed Martin Corp.-led industry team and Australian company Austal Ltd. for the construction of four new littoral combat ships.

The Navy issued the Lockheed Martin team a $698.9 million modification to add funding for two littoral combat ships, while giving Austal a $683.7 million modification for two of the ships.

The ships are the seventh and eighth of each contractor's previously awarded 10-ship block buy contract. Together, the contracts allow...
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