Lockheed Martin Gets $25.8 Million Contract From American Navy

Lockheed Martin Corporation LMT was awarded a $25.8 million contract by the American Navy to produce Enhanced Laser Guided Training Rounds (ELGTR).

Lockheed Martin said it would deliver ELGTRS and refurbish reusable shipping containers and also offer associated technical data. The company said it would extend ELGTR production into late 2018. The company indicated the contract represented the final of four options under its $84.5 million ELGTR indefinite delivery or indefinite quantity contract awarded in 2013.

The company's program director for Missiles and Fire Control, Joe Serra, said, "The U.S. Navy and 10 international partner countries rely on ELGTR for their Paveway II Laser Guided Bomb training programs. ELGTR ensures U.S. and allied warfighters can hone their skills in order to maintain mission readiness."

Lockheed Martin said ELGTR emulated flight characteristics of Paveway II laser-guided weapon systems and presented pilots with the same information that they could see in an actual mission.

LMT stock traded down 0.15 percent on Thursday.

Posted In: NewsPress Releases
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