Lockheed Wins $308M Kuwait Missile Sale; Richard McDaniel Comments

lockheed martinLockheed Martin (NYSE: LMT) has won $308 million contract modification to produce weapons for Kuwait under a foreign military sales contract awarded by the U.S. Army.

Work includes manufacturing of 244 Patriot Advanced Capability-3 missiles and deliveries are scheduled to start next year,  Lockheed said Monday.

The contract also covers 72 launcher modification kits and other supplies.

Richard McDaniel, Lockheed vice president of PAC-3 missile programs, said Kuwait aims to bolster its defense posture.

Kuwait becomes the sixth country to purchase the PAC-3, joining countries such as Germany, Japan, Netherlands, Taiwan and the United Arab Emirates.

Lockheed produces warheads and offers related services as the prime contractor for the Patriot defense system’s PAC-3 segment development program.

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