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State Department OKs Potential $700M Missile Sale to Switzerland

The State Department has cleared a potential $700 million sale of up to 72 modernized Patriot missile systems and associated equipment to the Swiss government.

Lockheed Martin (NYSE: LMT) will serve as the principal contractor on the proposed foreign military sales agreement that will include trainers, skid kits, canister consumables, launcher stations heater controls and spare parts for the Patriot Advanced Capability-3 Missile Segment Enhanced weapon, the Defense Security Cooperation Agency said Tuesday.

Flight test support, flight test targets and other engineering and logistics technical assistance are also part of Switzerland’s procurement request to the U.S. government.

The possible FMS customer intends to implement the system in efforts to build up its missile defense system, defense regional integrity and advance interoperability with U.S. and NATO forces.

Upon completion of the deal, up to 10 contractor and U.S. government representatives will go to the European country to help field the equipment.

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