MANATEE -- The local arm of mega defense contractor Lockheed Martin Corp. has been awarded a $333.3 million Army contract to provide replacement parts for its tactical camera systems on armored vehicles.
The new contract will support replacement parts on a $300 million order the Army placed in 2008 with Lockheed Martin Gyrocam Systems to build 500 of the cameras to spot roadside threats in Afghanistan and Iraq.
Lockheed Martin was the sole bidder for the replacement contract, which was solicited through the Internet.
The work will be performed at Lockheed Martin Gyrocam Systems on 16th Street East near the airport in East Manatee.
The expected completion date is Aug. 22, 2014.
The Gyrocam Systems are found on vehicles used by the U.S. Army, Marine Corps and Air Force. The cameras use a combination of color, night-vision and thermal sensor to spot enemy threats, including buried land mines.
In 2006, Gyrocam won a $51.7 million defense contract for cameras used to detect roadside bombs.
Kenneth Sanborn and his Australian partners sold the company to defense giant Lockheed Martin in August 2009. Terms of the deal were not disclosed.
Josh Salman, Herald business writer, can be reached at 941-745-7095. Follow him on Twitter@JoshSalman