Lockheed Martin Inks $849 Million Navy Deal

Military contractor Lockheed Martin Corp (LMT) said Thursday it received an $849 million deal for production and deployed system support for the Trident II D5 Fleet Ballistic Missile program for 2008. Lockheed said the contract includes D5 production support, reentry system hardware and operations and maintenance to support the readiness and reliability of missile systems aboard submarines and at onshore facilities. The deal also extends the continuation of the Navy's missile program. Deliveries under the original contract called for the production of 425 missiles from 1989 through 2007. The new pact will extend development work and will include delivery of another 108 missiles starting in 2011.

First deployed in 1990 and scheduled for operational deployment until 2042, the Trident II D5 is mounted aboard Trident II-configured Ohio-class submarines. Lockheed Martin Space Systems Company, Sunnyvale, Calif., is the prime strategic missile contractor and missile system program manager for the U.S. Navy's Strategic Systems Programs.

Sources: AP, Reuters, MarketWatch, Bloomberg

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