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Lockheed Martin Books Massive $789 Million Missile Defense Deal

Lockheed Martin (NYSE: LMT) reached a deal with the Missile Defense Agency worth $789.8 million to cover production of the Terminal High Altitude Area Defense Weapon System.

According to the firm, “the contract includes $694.9 million and for the production of 48 THAAD interceptors, six THAAD launchers, four fire control units and additional support equipment.  An option for additional launchers in the amount of $94.8 million was also award for a total value of $789.8 million. These components will be employed by THAAD Batteries 3 and 4 for the U.S. Army.  Delivery to Batteries 3 and 4 will be completed in 2013.”

“We have great confidence in the production plans established to deliver the THAAD weapon system to the warfighter as soon as possible, ” said Tom McGrath, vice president and program manager for THAAD at Lockheed Martin.  “Lockheed Martin remains focused on ensuring THAAD is reliable, affordable and effective.”

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