Saturday, March 3, 2012

Inflation blamed as cost of Navy ship hits $550M.(Business)

WASHINGTON - Lockheed Martin Corp. says a double-digit jump in the cost of steel and rising oil prices have helped propel the final price tag of its latest warship for the Navy to more than double the initial estimates.

Navy officials last month told lawmakers the service's initial estimate of $220 million per ship had ballooned to as much as $550 million, which they blamed on design changes that occurred during …

No comments:

Post a Comment