EWA BEACH, Hawaii, June 12, 2018 – The Naval Sea Systems Command awarded Lockheed Martin (NYSE: LMT) a five-year follow-on contract option worth approximately $65 million to continue supporting the Navy’s intermediate-level maintenance activities for MK48 torpedoes at the Pearl Harbor Heavyweight Torpedo Intermediate Maintenance Activity (IMA). Lockheed Martin has provided specialized maintenance for the MK48 torpedoes since 2007.

“Lockheed Martin is appreciative and proud of our more than decade long relationship with the U.S. Navy in support of the MK48 torpedoes," said Richard Dunn, program manager, MK48 Torpedo IMA Program for Lockheed Martin Rotary and Mission Systems. “Our teams have established a strong partnership that ensures availability and reliability of the MK48 heavyweight torpedoes, while reducing total program life cycle costs for the Navy's torpedo enterprise.”

Lockheed Martin provides the infrastructure support for the intermediate maintenance activities, including quality assurance, training, audit support, pier side services and ordnance handling. The Navy provides the facility, all required parts and equipment, as well as the procedures necessary to perform the maintenance tasks.

The Lockheed Martin team includes qualified torpedo maintenance technicians who receive, inspect, induct, process and issue the MK48 torpedoes. In addition, Lockheed Martin technical, administrative and logistic personnel support the facility, quality assurance and technical documentation functions.

Because torpedoes can be used multiple times for training and exercises, Lockheed Martin refurbishes these heavyweight torpedoes to ensure adequate numbers of ready-for-issue weapons are available to the Navy’s Fleet Commanders.

Lockheed Martin performs intermediate-level maintenance for both exercise and wartime-ready “warshot” configurations of the MK48 torpedoes.

Work on this contract will be conducted at the Pearl Harbor Heavyweight Torpedo Intermediate Maintenance Activity in Ewa Beach, Hawaii. More than 100 Lockheed Martin employees will continue to support this contract. The contract was originally awarded in March 2018.

For more information, visit www.lockheedmartin.com/mk48.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.