Lockheed Martin Corp.

Lockheed Martin Corp., Lockheed Martin Naval Electronics & Surveillance Systems - Marine Systems, Baltimore, Md., is being awarded a $142,691,843 firm-fixed-price modification to previously awarded contract (N00024-98-C-5363) for production of six shipsets of the MK41 Vertical Launching Systems (VLS), installation support and ancillary hardware. The contract will provide for fabrication, assembly, test, installation support and ancillary hardware in support of the MK 41 VLS for the U.S. Navy (66 percent) and the Government of Korea (34 percent) under the Foreign Military Sales requirements. The contract contains options for fiscal year 2003 and fiscal year 2004 requirements totaling an additional $181,059,157, which if exercised, will bring the total cumulative value of the contract to $323,751,000. Lockheed Martin will award a major subcontract to United Defense Limited Partnership (UDLP), Minneapolis. Work will be performed in Baltimore (58 percent); Aberdeen, S.D. (37 percent); Minneapolis (five percent), and is to be completed by February 2007. Contract funds will not expire at the end of the current fiscal year. The Naval Sea Systems Command, Washington, D.C., is the contracting activity.