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Lockheed wins $279 million from U.S. Navy funding for new ship

Staff writer ▼ | December 1, 2015
Lockheed Martin received $279 million in remaining funding from the U.S. Navy for the construction of the future USS Cooperstown, the 23rd Littoral Combat Ship.
Littoral Combat Ship
Defense industry   On top of $79 million in advanced procurement funding
The funding comes on top of $79 million in advanced procurement funding released to Lockheed in March 2015.

Joe North, vice president at Lockheed's Mission Systems and Training division, said his company and key suppliers, including Italy's Fincantieri, had already delivered three of the ships and remained committed to completing work on the remaining orders covered by a block buy agreement with the Navy.