Marine Log

June 28, 2006

Bollinger to build LCS

The U.S. Navy has awarded a Lockheed Martin [NYSE: LMT]-led team nearly $198 million for construction of the Navy's third Littoral Combat Ship (LCS).

This is the second LCS awarded to the Lockheed Martin team.

The Lockheed Martin team will begin construction in the first quarter of 2007 at Bollinger Shipyards in Lockport, La. The ship will be delivered to the U.S. Navy in 2009.

"We are excited to continue our partnership with the U.S. Navy on the revolutionary Littoral Combat Ship program," said Dave Broadbent, vice president and general manager of Lockheed Martin's Littoral Ships & Systems business. "The team is committed to the LCS program and ready to begin work on our second ship. We continue to make tremendous progress on our first ship as we look forward to its christening this fall. This award enables our team to continue the Navy's vision for building its transformational fleet."

Bollinger Shipyards has already played an active role in the LCS program. During the construction of the first LCS, Freedom (LCS 1), Bollinger constructed one of the ship's stern modules, giving its Lockport workforce the opportunity to train on LCS processes.

Freedom is currently under construction at Marinette Marine in Marinette, WI. The Lockheed Martin team was awarded the contract for Freedom in December 2004, began construction of the ship in February 2005 and laid its keel in June 2005. The ship will be christened this fall and delivered to the U.S. Navy in 2007.

The Lockheed Martin team design for LCS is a survivable, semi-planing steel monohull that provides outstanding maneuverability with proven sea-keeping characteristics to support launch and recovery operations, mission execution and optimum crew comfort. The LCS will be the first surface combatant to be classed under the new Naval Vessel Rules by the American Bureau of Shipping.

The Lockheed Martin-led team includes naval architect Gibbs & Cox, shipbuilders Marinette Marine, a subsidiary of The Manitowoc Company, Inc. [NYSE: MTW], and Bollinger Shipyards, as well as other domestic and international team members