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Lockheed Wins $150M For THAAD Batteries, Launchers

Lockheed Martin Corp. (NYSE: LMT) has won a $150 million contract modification from the U.S. Missile Defense Agency to continue making batteries for a missile defense system.

The Defense Department said Tuesday the MDA will fund this firm-fixed-price modification with fiscal 2010, 2011 and 2012 procurement funds.

The company will provide the agency lots three and four of batteries for the Terminal High Altitude Area Defense program, launchers, fire control and communications and support equipment.

Launchers for THAAD batteries one and two are also covered under this contract action.

Deliveries will begin in fiscal 2014 and the Pentagon expects them to finish in fiscal 2016.

Lockheed will manage work in Sunnyvale, Calif., with performance occurring in Huntsville, Ala. and Camden, Ark.

The company also holds an estimated $2 billion contract to provide the agency THAAD missile interceptors.

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