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Lockheed Wins Finnish Army Contract

Lockheed Martin (NYSE: LMT) announced this week a $45.3 million contract award to upgrade the Finnish Army’s M240 Multiple Launch Rocket System launchers.

By adding the Universal Fire Control System, the upgrade enables launching of GPS-guided munitions and extends strike distance. The contract also calls for training and support of the system.

“Finland has used MLRS products for four years, and the M270 launcher upgrade gives the Finnish Army a modernized fire control system and new artillery options with GPS-enabled precision munitions, ” said Scott Arnold, vice president for precision fires at Lockheed Martin Missiles and Fire Control. “This important upgrade will allow Finland to use the full range of MLRS precision munitions, including GMLRS Unitary and Army Tactical Missile System Unitary.”

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