Lockheed Martin subsidiaries reach $70 mn settlement for overcharging Navy ...Middle East

Business Standard - Economy
Lockheed Martin subsidiaries reach $70 mn settlement for overcharging Navy
source : Business Standard ( Middle East ) () 74
Two Lockheed Martin subsidiaries have agreed to pay the federal government $70 million for overcharging the Navy for aircraft parts, the U.S. Department of Justice announced Friday. The federal agency says Sikorsky Support Services, based in Stratford, Connecticut, and Derco Aerospace, headquartered in Milwaukee, Wisconsin, knowingly entered into an improper subcontract for spare parts and materials for aircrafts used to train Navy pilots. Under the contract, Sikorsky purchased the parts from Derco at the cost Derco paid other suppliers, plus a 32% markup. Sikorsky then billed the Navy for the price it paid Derco, in violation of federal regulations barring such arrangements, which prosecuto

Hence then, the article about lockheed martin subsidiaries reach 70 mn settlement for overcharging navy was published today ( ) and is available on Business Standard ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Lockheed Martin subsidiaries reach $70 mn settlement for overcharging Navy )

Apple Storegoogle play

Last updated :

Also on site :



Latest News

Xcellence leicht gemacht: Bambu Lab bringt den X2D auf den Markt, seinen Flaggschiff-3D-Drucker der nächsten Generation mit DualExtrusion-System

before 5 hours & 52 minute

Good work-life balance tops wish-list when looking for new job, survey suggests

before 6 hours & 26 minute

Trading Desks Boom While Big Oil Output Stalls

before 9 hours & 8 minute

Europe’s Energy Problem Isn’t the Transition—It’s That Europe Never Finished It

before 11 hour & 15 minute

Shanghai Electric hlásí silné výsledky za rok 2025, nové zakázky na rekordní úrovni

before 12 hour & 20 minute

Turkey announces its desire to continue importing natural gas from Iran

before 13 hour & 7 minute

Hydropower Is Making a Global Comeback

before 13 hour & 34 minute

L'Akuvox X910 remporte le Red Dot Award 2026 : le premier interphone intelligent au monde doté d'une IA pour la détection des colis révolutionne l'accès aux maisons de luxe

before 14 hour & 45 minute

Pastor Dino Rizzo Marks 100 Days to Serve Day Ahead of Global Outreach Initiative

before 15 hour & 29 minute

Inside the Race to Control the World’s Lithium Supply

before 15 hour & 32 minute

Why lower fertility does not have to mean economic decline

before 16 hour & 32 minute

Strait of Hormuz Faces Full Shutdown as Iran Escalates Standoff

before 17 hour & 32 minute

WOMEN in the Spotlight! The 2026 Yiwugo Top Boss Ladies Awards Gala Held

before 17 hour & 50 minute

Tankers U-Turn in Persian Gulf as Iran Closes Hormuz Again

before 22 hour & 38 minute

Stocks are soaring. But the Iran war’s economic damage is far from over.

before 23 hour & 19 minute