The world's largest defense contractor landed a work agreement to build warships, requiring several of its locations to have all hands on deck.
Bethesda-based Lockheed Martin Corp. (NYSE: LMT) won a $450.7 million contract from the U.S. Navy on July 16, according to the U.S. Department of Defense. The seven-year contract involves support of the construction of four Multi Mission Surface Combatant ships.
The Multi-Mission Surface Combatant is a lethal and highly maneuverable surface warship capable of littoral and open ocean operation. This contract involves foreign military sales to Saudi Arabia.
Twenty-one locations throughout the U.S. and overseas will get a piece of the contract.