DTN News - DEFENSE NEWS: Lockheed Martin Wins $65 Million JLTV Engineering And Manufacturing Development Phase
(NSI News Source Info) TORONTO, Canada - August 25, 2012: Lockheed Martin [NYSE:LMT] received a $65 million contract from the U.S. Army and U.S. Marine Corps to continue developing the Joint Light Tactical Vehicle (JLTV) through the Engineering and Manufacturing Development (EMD) phase.
The Lockheed Martin team optimized a JLTV model already proven in government testing to create its EMD design. The production-enhanced JLTV maintains the proven force protection, mobility, transportability and reliability of the earlier Technology Demonstration (TD) model, while significantly reducing weight and cost. The team’s JLTV design reflects improvements from more than 160,000 combined testing miles.
"We are extremely pleased to announce the selection of the Lockheed Martin JLTV design as one of three mature vehicles selected to enter the Engineering and Manufacturing Development Phase of the JLTV Program,” said Col. David Bassett, project manager at the JLTV Joint Program Office. “We are confident that the Lockheed Martin team, along with the other two selected vehicles, are ready to demonstrate their ability to meet and exceed our requirements, deliver vehicles on schedule, and achieve the manufacturing and sustainment costs necessary to compete effectively for production."
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