Littoral combat ship on schedule as Navy lays keel
By MarketWatch
Last Update: 5:01 PM ET June 2, 2005
WASHINGTON (MarketWatch) -- The Navy's new Littoral Combat Ship is on schedule and on budget heading into Thursday's keel laying in Wisconsin, program officials said this week.
Lockheed Martin Corp. (LMT) is building the "Freedom," the first in a new ship class designed to fight submarines, disarm mines and hunt terrorists close to shore. The official keel-laying ceremony is a big moment for the fledgling program as it moves toward launch.
"It's going to happen on schedule. It's kind of at an unprecedented (development) speed as well," said Capt. Don Babcock, Navy program manager, in a briefing with reporters that was embargoed ahead of Thursday's ceremony.
Navy plans call for building between 63 and 82 Littoral Combat Ships, comprising nearly half of the planned fleet's surface combatants. So far, the program includes two separate designs, one from Lockheed Martin and one led by General Dynamics Corp. (GD).
Lockheed Martin will build the first ship at the Marinette Marine Corp. in Marinette, Wis.
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