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Thursday, December 08, 2011

DRS Technologies Awarded $691 Million IDIQ Contract From Lockheed Martin for U.S. Navy Submarine Technology Upgrade

Collins class submarineDRS Technologies, Inc., A Finmeccanica Company, announced that its DRS Laurel Technologies business unit, a subcontractor to Lockheed Martin, received an award for a U.S. Navy Submarine Technology Insertion Hardware (TIH) contract that will provide submarine combat and sonar systems designed around commercially available hardware and software.

DRS has been awarded a five year indefinite delivery/indefinite quantity contract with a ceiling value of $691 million from Lockheed Martin to provide the production hardware.

"We have worked very closely with the Lockheed Martin team to meet a very aggressive schedule for the production hardware to support the U.S. Navy's TIH Upgrade," says Patrick Marion, vice president and general manager of DRS Laurel Technologies.

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