USA: Lockheed Martin Wins USD 53.39 Million VH-71 Contract

Lockheed Martin Corp., Mission Systems and Sensors, Owego, N.Y., is being awarded a $53,396,891 modification to the previously awarded cost-plus-award-fee VH-71 system development and demonstration contract (N00019-05-C-0030), which was terminated for the convenience of the government.

This modification provides funding for post-termination related expenses, including, but not limited to:  the physical inventory of contractor acquired property; proposal preparation; security; disposition of contract inventory; subcontractor settlement costs; and termination management activities.  Work will be performed in Owego, N.Y. (36 percent), and at various subcontractor facilities located within the United States and in the United Kingdom and Italy (64 percent), and is expected to be completed no later than September 2012.  Contract funds will not expire at the end of the current fiscal year.  The Naval Air Systems Command, Patuxent River, Md., is the contracting activity.
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Source: Defense, June 3, 2011;