Lockheed Martin (NYSE: LMT) has secured a $601.3M contract modification from the U.S. Navy to produce additional submarine-launched ballistic missile systems for the service branch and the British government.
The company will manufacture Trident II D5 missiles and support deployed systems through the sole-source contract, the Department of Defense said Thursday.
The Navy will obligate $499.8M on the modification while the U.K. will allocate $93.3M on the award.
