Lockheed Martin Receives $1.96 Billion THAAD Production Contract for the United Arab Emirates

Lockheed Martin [NYSE: LMT] received an undefinitized contract totaling $1.96 billion to produce the Terminal High Altitude Area Defense (THAAD) Weapon System for the Missile Defense Agency and the United Arab Emirates.

The contract is the first Foreign Military Sale (FMS) of the THAAD Weapon System and includes the production of two THAAD Weapon Systems and additional maintenance and support equipment.

"Lockheed Martin is pleased the U.S. Government and the United Arab Emirates have reached an agreement on a path forward for the first Foreign Military Sale of the THAAD Weapon System," said Tom McGrath, vice president and program manager for THAAD at Lockheed Martin. "We look forward to working with our customers to deliver this important capability."

Read Full Article from Sacramento Bee

- Posted: 2011-12-30 21:31:20

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