ERAPSCO to Share in $222M Military Contract

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The U.S. Department of Defense has awarded a $222 million contract to ERAPSCO in Columbia City and Lockheed Martin Corp. (NYSE: LMT) in Virginia. The contract is a price modification to a previously-awarded contract which calls for the production of 18,000 sonobuoys for the U.S. Navy.

The department says the companies have the opportunity to compete for individual orders.

ERAPSCO will perform approximately one-third of the work in Columbia City and the remaining portion in Florida. Lockheed Martin will perform the majority of its work in Virginia and about 10% in Florida.

The work is scheduled for completion in December 2024. The Naval Air Systems Command in Patuxent River, Maryland is the contracting activity.