Lockheed Martin Wins $755M Contract for Production of PAC-3 Missiles
Lockheed Martin (NYSE: LMT) received a contract totaling $755 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 2013 (FY'13) missile and command launch system production for the U.S. Army and a follow-on sale of the PAC-3 Missile to Taiwan. In 2009, Taiwan became the fifth international customer for the PAC-3 Missile.
The contract includes production of 168 hit-to-kill PAC-3 Missiles, 27 launcher modification kits and associated tooling, as well as program management and services. This is the 14^th production buy of the PAC-3 Missile Segment by the U.S. government.
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