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Lockheed to Build 14 Patriot Missile Kits for $263M

lockheed martinLockheed Martin (NYSE: LMT) has been awarded a $263, 410, 000 contract by the U.S. Army to build 14 Patriot missiles and seven launcher modifications kits.

Kuwait is buying the four-pack missiles and kits through June 30, 2016 and the Army is obligating $23, 808, 000 in fiscal year 2014 other procurement funds at the time of award, the Defense Department said Tuesday.

The company’s missiles and fire control business will perform the work under the fixed-price contract.

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