U.S. Government Awards Lockheed Martin Contract to Begin Production of Multi-Mission Surface Combatant for Kingdom of Saudi Arabia

The U.S. government awarded Lockheed Martin (NYSE: LMT) an Undefinitized Contract Action (UCA) award for the production of the Multi-Mission Surface Combatant for the Kingdom of Saudi Arabia. Lockheed Martin is being awarded a contract totaling $450 million to begin the detailed design and planning for construction of four Multi-Mission Surface Combatants (MMSC) that will be built at Fincantieri Marinette Marine shipyard in Marinette, Wisconsin. The Kingdom of Saudi Arabia (KSA) will acquire four Multi-Mission Surface Combatants as part of a larger agreement between the United States and KSA to…

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