Lockheed Receives $829M Army FMS Contract for Multiple Launch Rocket Systems

Lockheed Martin (NYSE: LMT) has secured a potential $828.7 million contract from the U.S. Army to produce Guided Multiple Launch Rocket Systems for Finland, South Korea and Romania.

The Defense Department said Friday. the full obligated amount at the time of award is from the Army’s fiscal 2016, 2017 and 2018 “other” procurement and foreign military sales funds.

Work will take place in Grand Prairie, Texas, through May 31, 2020.

The Army Contracting Command solicited and received one bid for the FMS contract.

GMLRS warheads are packaged in a launch pod and fired from Lockheed’s High Mobility Artillery Rocket System  or M270 family of rocket launchers.

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