WASHINGTON, March 31 (Reuters) - Lockheed Martin Corp (NYSE:LMT) LMT.N and Australia's Austal ASB.AX have each won contracts worth up to $564 million to build one Littoral Combat Ship (LCS) for the U.S. Navy, the U.S. Defense Department said on Thursday in its daily digest of arms deals.
Lockheed's contract covers construction of LCS 25, another of its Freedom-variant littoral combat ships, integration and testing of selected ship systems, and equipment, according to the statement. The work is to be completed by July 2020.
Austal's contract covers construction of LCS 26, another of its Independence-variant LCS ships, integration, testing and equipment, with work to be completed by July 2020.