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lockheed martin corp (LMT) Key Developments

Lockheed Martin Receives Contracts to Support U.S. Navy Cross Domain Intelligence Sharing Solution

Lockheed Martin will continue to support the Navy system that allows secure sharing of sensitive data between unclassified and classified security domains. The U.S. Navy recently awarded Lockheed Martin two contracts with a total ceiling value of $90 million to support the Radiant Mercury cross domain solution for five years. Military and intelligence operations depend on the timely sharing of critical information. Radiant Mercury helps this by ensuring that data transferring from one network domain to another undergo extremely high levels of scrutiny, protecting against compromises in the integrity of the information. While guarding classified data from unauthorized access, the system simultaneously allows those with the appropriate security classification to retrieve sensitive and critical information.

Lockheed Martin and Visible Assets, Inc. Develop New RuBee Weapon Shot Counter System

Lockheed Martin and Visible Assets, Inc. developed a new advanced weapons maintenance system that manages, diagnoses and tracks sensitive assets such as munitions could potentially save the U.S. Navy millions by automating the time-consuming process of weapons tracking. The system, the RuBee Weapon Shot Counter addresses the challenge of tracking sensitive munitions remotely. Traditional radio frequency identification (RFID) tags can't always be read or accessed through metals, liquids and other materials; they're also subject to eavesdropping by those wanting access to information about munition supply. In contrast, RuBee operates on the electromagnetic spectrum, rather than the RF spectrum, and is not subject to these deficiencies. During the multi-phased pilot program, RuBee tags were embedded in select Naval assets to track weapon performance and diagnostic data. The system operated as designed for the duration of the pilot. RuBee successfully provided maintenance and diagnostic data, such as number of rounds fired, rate of fire and calculated barrel temperature. The diminutive sensors also detected performance anomalies, such as gas port erosion and cracked bolts, before they led to potential weapon failure. RuBee-enabled weapons can be automatically located and identified as they enter or exit a defined perimeter or armory. RuBee's magnetic signal can be read through and around metal and other materials, thus eliminating the need for hands-on inventory scans and allowing the armorer to remotely audit armory.

Lockheed Martin to Pay $62 Million to Settle 401(K) Plan Lawsuit

Lockheed Martin has agreed to pay $62 million to settle a class-action lawsuit that accused the defense contractor of mismanaging employee retirement accounts and using funds with excessive fees. The settlement still needs to be approved by a judge. Lockheed Martin agreed to settle in December, but terms of the settlement were disclosed for the first time on February 20, 2015. In settling the case, Bethesda, Maryland-based Lockheed Martin did not admit to any wrongdoing. The lawsuit, which was first filed in 2006, said Lockheed Martin's retirement accounts charged high fees and too much of employees' savings were held in low-yielding funds.

Lockheed Martin Corporation Announces Board Appointments

Lockheed Martin Corporation has appointed Rodney (Rod) A. Makoske to senior vice president, Corporate Engineering, Technology, and Operations and a corporate officer, and Dana (Keoki) Jackson as vice president and chief technology officer. Both appointments are effective immediately and follow the retirement of Ray Johnson on February 1, 2015. In his new role, Makoske is responsible for providing corporate leadership in the strategic areas of technology, engineering, production, supply chain, program management, and sustainment operations. Makoske was most recently vice president of Technical Operations for the Corporation's Mission Systems and Training (MST) business area. Jackson was most recently vice president for Program Excellence.

Lockheed Martin Corp. and Lockheed Martin Aeronautics Co. Secures $16,492,000 Federal Contract

Lockheed Martin Corp. and Lockheed Martin Aeronautics Co. was awarded a $16,492,000 federal contract by the U.S. Naval Air Systems Command, Patuxent River, Maryland, for the procurement and installation of vehicle management computer retrofit modification kits into designated aircraft that are critical to meeting F-35 Lightning II requirements. places of performance will be in Cherry Point, North Carolina; Edwards Air Force Base, California; Eglin Air Force Base, Florida; Fort Worth, Texas; Ogden, Utah; and Yuma, Arizona.


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