U.S. Navy Awards Marine Helicopter $2 Bln Helicopter Support Contract

(RTTNews) - The U.S. Navy awarded Marine Helicopter Support Co., a joint venture of Lockheed Martin Corp (LMT) and Sikorsky Helicopter, a $1,999,812,283 fixed-price performance based logistics requirements contract for 1,710 weapon replaceable assemblies/shop replaceable assemblies' components in support of the H-60 aircraft.

The U.S. Navy noted that the effort will encompass the repair, modification, overhaul and replacement of hardware, including manufacturing of new material, as well as storage, requisition processing, obsolescence management and availability/reliability improvement.

Work will be performed at Stratford, Connecticut (50 percent) and Owego, New York (50 percent), and work will be completed by January 31, 2020.

Fiscal 2015 Navy working capital funds in the amount of $260.47 million will be obligated on the first delivery order running concurrently with the contract award. These funds will not expire before the end of the current fiscal year.