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Lockheed, Austal Extend Prices on Littoral Ship Bids

Lockheed Martin Corp. and the U.S. unit of Australia’s Austal Ltd. will extend by two weeks prices for the U.S. Navy’s Littoral Combat Ship to allow Congress time to possibly authorize the project’s dual-team strategy and for the service to process the resulting contract.

Captain Catherine Mueller, a Navy spokeswoman, disclosed the accord today in an e-mailed statement. The prices would have lapsed on Dec. 14. Lockheed and Austal are leading two separate teams designated by the Navy to build 10 of the first 20 production vessels.