Lockheed Martin Team Reaches 50 Percent Completion in Construction of Nation’s Third Littoral Combat Ship

MARINETTE, Wis., 06/15/2010 --

The Lockheed Martin [NYSE: LMT]-led industry team recently accomplished a key milestone by reaching the 50-percent completion mark in the construction of the nation's third Littoral Combat Ship (LCS). LCS 3, named Fort Worth, is on track for delivery to the U.S. Navy in 2012.

Fort Worth is being built by Marinette Marine Corporation and is scheduled to be launched later this year. All of the ship's major equipment has been installed and 100 percent of its modules are under construction.

"Lockheed Martin and its teammates have demonstrated strong performance in constructing LCS 3," said Joe North, Lockheed Martin LCS program manager. "We are on schedule and on cost under a fixed-price contract. This performance proves our ability to deliver a low-risk solution that will meet the Navy's need for a class of affordable and survivable warships."

Marinette Marine constructed and launched the nation's first LCS, USS Freedom. USS Freedom's capabilities have been demonstrated since its commissioning in 2008. The ship has been operational for 18 months and successfully completed its first deployment in April. Throughout the deployment, the crew completed four drug interdictions, in which more than five tons of cocaine were seized in the U.S. Southern and U.S. Pacific Command areas of responsibility.

In addition to Marinette Marine Corporation, a Fincantieri company, the Lockheed Martin-led team for LCS 3 includes naval architect Gibbs & Cox as well as best-of-industry domestic and international companies. In late 2009 and early 2010, the team installed Fort Worth's main propulsion equipment, including the 16-cylinder diesel engines, produced by Fairbanks-Morse, as well as two Rolls-Royce MT30 gas turbines.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 136,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2009 sales of $45.2 billion.

Littoral Combat ShipLittoral Combat Ship

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Media Contact: Kim Martinez, (202) 863-3491; e-mail: kimberly.martinez@lmco.com