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Lockheed will not protest U.S. Marine Corps vehicle contracts

Reuters - UK Focus

WASHINGTON, Dec 11 (Reuters) - Lockheed Martin Corp on Friday said it had decided not to file a formal protest against contracts awarded by the U.S (Other OTC: UBGXF - news) . Marine Corps to Science Applications International Corp and BAE Systems Plc (Other OTC: BAESF - news) to build prototypes of a new wheeled amphibious combat vehicle.

General Dynamics Corp on Monday filed a protest with the Government Accountability Office against the decision, which was first announced on Nov. 24.

In a statement, Lockheed said it was disappointed about the contract loss, and believed its vehicle "met or exceeded all of the requirements" outlined in the Marine Corps' request for proposals, while offering long-term affordability and significant growth potential.

The Marine Corps is funding development of the new vehicle as a replacement for the tracked Expeditionary Fighting Vehicle that was being developed for the Marines by General Dynamics before its cancellation in 2011 after large cost increases and technical issues. (Reporting by Andrea Shalal; Editing by Tom Brown)