Lockheed Wins Contracts for Minesweeping Equipment, Radar Data Processors

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The Department of Defense issued 25 new contracts on Monday worth a little more than $903 million combined. Lockheed Martin (NYSE: LMT  ) took home two of these awards -- one for supplying arms to the U.S. military and one for supplying arms to an ally.

The U.S.-oriented contract, for $7 million, went to Lockheed's Mission Systems & Training unit, which will supply 10 Organic Airborne Mine Countermeasures Technical Insertion Common Console (TICC) kits for use aboard Sikorsky MH-60S Seahawk combat search and rescue helicopters. The Organic Mine Countermeasures are part of a tow cable device manufactured by Exelis, which is used when the helicopter is configured for minesweeping operations, to sweep for, detect, and neutralize seaborne anti-ship mines. This contract should be completed in September 2015.

Lockheed's other contract, a sole-source acquisition contract for $7.4 million, is for the supply of radar data processors for the Royal Australian Navy. Its completion date is set for August 2016.

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9/30/2016 4:03 PM
LMT $239.72 Down -2.62 -1.08%
Lockheed Martin CAPS Rating: ****