This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

New Zealand Ministry Of Defence Awards Upgrade Program To Lockheed Martin Canada

OTTAWA, Ontario and WELLINGTON, New Zealand, May 1, 2014 /PRNewswire/ -- Building on its 30-year legacy as a naval combat systems integrator, Lockheed Martin (NYSE: LMT) Canada today announced the signing of a contract with the Government of New Zealand for the upgrade of the Royal New Zealand Navy's two ANZAC Class frigates at a signing ceremony in Wellington on April 29, 2014.  The contract award represents Lockheed Martin Canada's first export sale of its Combat Management System (CMS), which was designed as a modern, affordable solution for the international market.

"To have another country select our CMS is tremendously rewarding to our employees and the government of Canada with whom we've worked for more than three decades on similar naval programs," said Rosemary Chapdelaine, president of Lockheed Martin Canada. "This key export of Canadian-designed technology not only reinforces Lockheed Martin's position as a world leader in naval combat systems integration but further demonstrates our ability to successfully leverage purchases and investments in high-technology defence products to create jobs and economic growth in Canada, one of the key objectives set forth in the recently launched Defence Procurement Strategy (DPS) in Canada."

The announcement comes following a due diligence in August last year followed by a Contract Definition Stage (CDS) in October, during which the New Zealand Ministry of Defence (NZMoD) re-confirmed its intention to contract with Lockheed Martin Canada for the ANZAC Frigate System Upgrade program's Prime System Integrator (PSI) role.  Under the terms of the contract, Lockheed Martin Canada will be responsible for the design, installation and integration of the CMS and Combat System Trainer for the Devonport Naval Base in Auckland, as well as the procurement of new sensor and weapon systems for HMNZ Ships Te Mana and Te Kaha.

Valued at more than C$180M over four years, the program will result in significant work scope at Lockheed Martin facilities in Dartmouth, Kanata and Montreal.  Should the NZMoD take up the offer to undertake the installation work package that is provided for in the contract, this will result in additional work scope for the SEASPAN shipyard in Victoria, British Columbia.   Lockheed Martin will work with several other Canadian companies across the country, as well as with its partner on the Halifax Class Modernization contract, Saab Sweden.  In addition, Lockheed Martin is working with New Zealand Trade and Enterprise to include local industry in the ANZAC Frigate System Upgrade program, as well as current and future Canadian and international programs.

The CMS is a commercial variant of systems developed for the Royal Canadian Navy and leverages an Open Architecture concept that allows users maximum flexibility to incorporate individual sub-systems and components.  The original equipment manufacturer and integrator of the combat systems on-board the HALIFAX fleet, Lockheed Martin Canada has maintained an uninterrupted contractual relationship with the RCN for more than 30 years and is today prime contractor the mid-life modernization of the fleet.

Mr. Des Ashton, the New Zealand Ministry of Defence's Deputy Secretary (Acquisitions) said that the Frigate Systems Upgrade (FSU) project will meet the Government's aim of restoring the frigate's surveillance, combat and self-defence capabilities in order to match contemporary threats.  "It is a very important project for the Ministry and for the Royal New Zealand Navy and comes at about the mid-life point of the ANZAC frigate's life. The project will provide the ships with excellent systems that will enable them to perform their expected tasks through to the end of their life in the 2030's.  We are delighted that Lockheed Martin Canada has been selected as our Prime System Integrator after a worldwide competitive tender process. We consider that Lockheed Martin's significant experience from the Canadian Navy's HALIFAX Modernization Programme, will be an important de-risking factor in our FSU project. We look forward to working closely with LMC to collectively achieve a successful outcome." 

Lockheed Martin Canada's naval combat systems business is a division of the corporation's Mission System & Training business area.  With headquarters in Ottawa, the company maintains its Maritime Advanced Training and Test Site (MATTS) in Dartmouth in addition to facilities in Montreal and Esquimalt. 

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

SOURCE Lockheed Martin

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs