Lockheed Gets $1.14B Army, FMS Contract Modification for Multiple Launch Rocket Systems

Jeff Brody

The U.S. Army has awarded Lockheed Martin (NYSE: LMT) a potential $1.14B contract modification to manufacture surface-to-surface systems designed to engage service area and point targets.

Lockheed will provide Guided Multiple Launch Rocket Systems to the service branch as well as South Korea and Romania as part of foreign military sales arrangements, the Department of Defense said Thursday.

Work under the modification will take place in Grand Prairie, Texas, through Sept. 30, 2022.

The company received an $829M contract from the Army in April 2018 to produce GMLRS for three FMS clients.

According to the service, the system is available in Dual-Purpose Improved Conventional Munition, Alternative Warhead and Unitary variants.

GMLRS is designed to work with M270 and High Mobility Artillery Rocket System launchers.

You may also be interested in...

Lynn Bamford President Curtiss-Wright segments

Lynn Bamford to Succeed David Adams as Curtiss-Wright CEO

Curtiss-Wright (NYSE: CW) plans to appoint Lynn Bamford, president of its defense and power segments, to become the corporation's president and CEO. She would succeed David Adams who plans to retire on Jan. 1, concluding the latter's seven-year tenure as CEO and over two decades of service with the company, Curtiss-Wright said Thursday.

John Ratcliffe Director ODNI

ODNI to Increase China Intell Spending by Nearly 20%; John Ratcliffe Quoted

The Office of the Director of National Intelligence said in a statement Thursday it has shifted resources in its fiscal year 2021 budget to increase intelligence spending on China by nearly 20 percent to help address concerns over economic, counterintelligence and national security threat posed by the East Asian country, The Wall Street Journal reported.