Lockheed Martin Receives $921 Million Contract for Production of Combat-Proven PAC-3 Missiles

Published on Monday, 30 January 2012 12:16 Written by TradersHuddle Staff

DALLAS, Jan. 30, 2012 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] received contracts totaling $921 million from the U.S. Army Aviation and Missile Command for hardware and services associated with the combat-proven Patriot Advanced Capability-3 (PAC-3) Missile Segment program.

The contract includes Fiscal Year 2012 (FY12) missile and command launch system production for the U.S. Army and a follow-on sale of the PAC-3 Missile Segment to Taiwan.  In 2009, Taiwan became the fifth international customer for the PAC-3 Missile Segment.

The contract includes production of hit-to-kill PAC-3 Missiles, launcher modification kits, spares and other equipment, as well as program management and services.  Production of all equipment will take place at Lockheed Martin manufacturing facilities in Dallas and Lufkin, Texas; Chelmsford, Mass.; and Ocala, Fla., as well as the PAC-3 All-Up Round facility in Camden, Ark.  Deliveries will begin in the first half of 2013.

"Demand remains strong from the U.S. and our global partners for the combat-proven PAC-3 Missile," said Mike Trotsky, vice president of air & missile defense programs at Lockheed Martin's Missiles and Fire Control business.  "In today's uncertain environment, Lockheed Martin remains focused on delivering this important capability to our customers on schedule and on budget."

Lockheed Martin is the prime contractor on the PAC-3 Missile Segment upgrade to the Patriot air defense system.  The PAC-3 Missile Segment upgrade consists of the PAC-3 Missile, a highly agile hit-to-kill interceptor, the PAC-3 Missile canisters (each of which hold four PAC-3 Missiles, with four canisters per launcher), a fire solution computer and an enhanced launcher electronics system and launcher support hardware.

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 123,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2011 were $46.5 billion.

For additional information, visit our website: http://www.lockheedmartin.com

SOURCE Lockheed Martin