Lockheed Martin Receives $755 Million Contract for Production of PAC-3 Missiles

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Jan 10, 2013, 12:59 ET

DALLAS, Jan. 10, 2013 /PRNewswire/ -- 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.

"The PAC-3 Missile remains in demand from the U.S. and governments around the world," said Richard McDaniel, vice president of PAC-3 programs at Lockheed Martin Missiles and Fire Control. "In fact, we continue to see expanding interest from all PATRIOT-using nations as well as from countries that want to acquire the PAC-3 Missile Segment for the first time."

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 2014.

Lockheed Martin is the prime contractor on the PAC-3 Missile Segment upgrade to the PATRIOT air defense system. The PAC-3 Missile Segment 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.

Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. It also has considerable experience in missile design and production, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as radar and signal processing. The company makes significant contributions to all major U.S. missile defense systems and participates in several global missile defense partnerships.

Lockheed Martin Missiles and Fire Control is a 2012 recipient of the U.S. Department of Commerce's Malcolm Baldrige National Quality Award for performance excellence. The Malcolm Baldrige Award represents the highest honor that can be awarded to American companies for their achievements in leadership, strategic planning, customer relations, measurement, analysis, workforce excellence, operations and results.

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 120,000 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