Lockheed Martin Corporation LMT said its joint venture with RTX Corporation RTX - Javelin Joint Venture - has inked a MoU to manufacture Javelin anti-tank weapon system in Poland.
Javelin Joint Venture inked the initial pact with Poland's state-owned Polska Grupa Zbrojeniowa (PGZ) to explore establishing a final assembly facility and component production capabilities in Poland.
The Javelin anti-tank weapon system is a shoulder-fired anti-armor system that automatically guides itself to the target after launch.
This agreement will stabilize future production of the Javelin system for U.S. forces while providing unique opportunities for Polish industry.
Also Read: U.S. Defense Department To Deploy Thousands Of Fully-Autonomous, AI-Controlled Units By 2025
The Javelin Joint Venture has produced over 50,000 Javelin missiles and over 12,000 reusable Command Launch Units.
The latest news comes right after LMT updated its F-35 Technology Refresh 3, or TR-3, schedule projections, anticipating the delivery of the first TR-3 jet between April and June 2024.
Read More: Lockheed Martin Stock Slips After F-35 Jet Delivery Outlook Gets A Rough Ride
Price Action: LMT shares closed lower by 4.77% at $423.94 on Wednesday.
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