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Lockheed, Pentagon agree on $70.6M settlement over F-35 parts problems

Lockheed, Pentagon agree on $70.6M settlement over F-35 parts problems

Business
Sept. 30 (UPI) -- Lockheed Martin will invest nearly $ 71 million to correct an ongoing problem with spare parts for the F-35 fighter plane, an agreement the Pentagon states. The agreement, announced on Tuesday, will be formalized within two weeks, a Defense Contract Management Agency spokesman said. Advertisement The deal refers to over 15,000 F-35 spare parts delivered to the U.S. military without "electric equipment logs," which permit the parts to the identified and absorbed into logistics systems. Incorrect or unavailable information delays the uploading of data, and the dispute centered on at least $ 183 million in Defense Department expenses owing to the problem. The parts in question were rejected for installation only because of the lack of tracking data -- no flaws in safety or...
Lockheed Martin awarded $368.2M to build six F-35s for Italy

Lockheed Martin awarded $368.2M to build six F-35s for Italy

Business
June 12 (UPI) -- Lockheed Martin received a $ 368.2 million contract to build six F-35 fighter planes for the Italian defense ministry, the Pentagon announced. Italy will receive five F-35As and one F-35B by 2023, according to a statement from the Defense Department on Thursday. Advertisement Italy currently has 15 F-35s in service, with plans to acquire 60 more. Lockheed Martin's facility at Cameri Air Base will undertake the new plane's final assembly and checkout. The purchase has been a recent source of contention in Italian politics. In the past year, the minority FiveStar Party has sought a temporary halt to new acquisitions, a call amplified by the costs of dealing with the COVID-19 pandemic. On May 28, Defense Minister Lorenzo Guerini confirmed that the purchases will continue. La...
Lockheed nabs $70.2M for Aegis development for Navy, foreign partners

Lockheed nabs $70.2M for Aegis development for Navy, foreign partners

Business
June 9 (UPI) -- Lockheed Martin was awarded a $ 70.2 million contract to support Aegis development for the Navy, as well as the governments of Japan, South Korea and Norway, the Pentagon announced Tuesday. The contract funds Aegis weapon system upgrades to the U.S.S. Ticonderoga and U.S.S. Arleigh Burke, as well as Aegis ballistic missile defense and foreign military sales requirements. Advertisement It also supports continued technical engineering, configuration management, associated equipment/supplies, quality assurance, information assurance and other operations and maintenance efforts required for the Aegis development and test sites. The Aegis combat system is capable of simultaneous operations against multi-mission threats: anti-air, anti-surface and anti-submarine warfare. It was ...
Lockheed nabs $147.6M for MK41 components

Lockheed nabs $147.6M for MK41 components

Business
April 23 (UPI) -- Lockheed Martin was awarded a $ 147.6 million contract modification for components for the Navy's MK 41 Vertical Launching System for the United States and three allies, the Pentagon announced Thursday. The deal modifies a contract awarded in February for the procurement of electronic components for the MK 41 system, which is installed aboard Navy surface combatant ships, as well as ships belonging to allies. This contract is funded by the U.S. Navy as well as the governments of South Korea, Finland and Germany through the Pentagon's foreign military sales program. The MK 41 launching system stores, selects, prepares and launches standard missiles as well as Tomahawk, Vertical Launch Anti-Submarine Rockets and Evolved Sea Sparrow missiles. The bulk of the work on the de...
Lockheed awarded $14.9M for work on F-35s for Navy, Air Force, partners

Lockheed awarded $14.9M for work on F-35s for Navy, Air Force, partners

Business
April 10 (UPI) -- Lockheed Martin was awarded a $ 14.9 million contract modification Friday for work on the F-35 for the the Navy, Air Force and some non-Pentagon participants, according to the Department of Defense. The deal modifies a contract originally awarded in 2018 and funds repair capability for the hydraulic power generation system under low rate initial production Lot 11 F-35s. In November Lockheed was awarded $ 184.5 million to establish organic depot level repair capabilities for the F-35 aircraft under a previously awarded low-rate initial production Lot 11 contract. Work on the contract will primarily be performed in Fort Worth, Texas, and Wolverhampton, Britain. Let's block ads! (Why?) Business News - UPI.com