Jane Edwards
A joint venture of Lockheed Martin, Serco Group and Jacobs Engineering Group has received an updated contract to manage operations of the U.K. defense ministry’s atomic weapons establishment after a completed a review of the program.
AWE Management Ltd. will operate the AWE sites built to develop, maintain and produce warheads in support of the U.K. government’s nuclear deterrent program, Serco said Thursday.
The revised contract for AWE will run through 2025 and aims to provide the British military options to change tasks based on program demands and availability of funds.
The agency will also implement a risk-and-reward structure based on the contractor’s performance and conduct regular pricing assessments under the contract.
Lockheed will own a majority stake in AWE ML in preparation for future increases in workload and use of resources, while Serco and Jacobs will each see their holdings in the venture reduced to 24.5 percent each.
