ARCHBALD, Pa., Aug. 3, 2017 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $26.5 million contract award from the U.S. Navy to produce Enhanced Laser Guided Training Rounds (ELGTR).

The contract includes a base year order with options for four additional years. Under the contract, which extends ELGTR production into late 2019, Lockheed Martin will deliver ELGTRs and refurbish reusable shipping containers. Execution of the remaining options will extend LGTR production into 2023.

"ELGTR provides the training capabilities the U.S. Navy requires to be prepared for challenging tactical mission environments," said Jason Golden, ELGTR program manager at Lockheed Martin Missiles and Fire Control. "The entire tactical team, from weapon handlers to ground support personnel to aircrew, benefits from executing end-to-end training procedures."

Lockheed Martin has produced more than 160,000 ELGTR/LGTRs for the U.S. Navy, Marine Corps and international customers. The ELGTR is compatible with F-16, F/A-18, AV-8B and various international aircraft platforms.

In addition to ELGTR, Lockheed Martin's 350,000-square-foot production facility in Archbald, Pennsylvania, designs and manufactures combat-proven Paveway™ II Plus Laser Guided Bomb (LGB) kits and the Paragon™ direct attack munition. More than 75,000 LGB kits and 7,000 Dual Mode LGB kits have been delivered to the U.S. Navy, Marine Corps, Air Force and 23 international customers.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

PAVEWAY is a registered trademark of a third party in the EU and several other countries and is used by Lockheed Martin Corporation under license.

SOURCE Lockheed Martin