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Lockheed Martin Receives $755 Million Contract For Production Of PAC-3 Missiles

DALLAS, Jan. 10, 2013 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a contract totaling $755 million from the U.S. Army Aviation and Missile Command for hardware and services associated with the combat-proven PATRIOT Advanced Capability-3 (PAC-3) Missile Segment program. 

The contract includes Fiscal Year 2013 (FY'13) missile and command launch system production for the U.S. Army and a follow-on sale of the PAC-3 Missile to Taiwan. In 2009, Taiwan became the fifth international customer for the PAC-3 Missile.

The contract includes production of 168 hit-to-kill PAC-3 Missiles, 27 launcher modification kits and associated tooling, as well as program management and services. This is the 14 th production buy of the PAC-3 Missile Segment by the U.S. government.

"The PAC-3 Missile remains in demand from the U.S. and governments around the world," said Richard McDaniel, vice president of PAC-3 programs at Lockheed Martin Missiles and Fire Control. "In fact, we continue to see expanding interest from all PATRIOT-using nations as well as from countries that want to acquire the PAC-3 Missile Segment for the first time."

Production of all equipment will take place at Lockheed Martin manufacturing facilities in Dallas and Lufkin, Texas; Chelmsford, Mass.; and Ocala, Fla., as well as the PAC-3 All-Up Round facility in Camden, Ark. Deliveries will begin in the first half of 2014.

Lockheed Martin is the prime contractor on the PAC-3 Missile Segment upgrade to the PATRIOT air defense system. The PAC-3 Missile Segment consists of the PAC-3 Missile, a highly agile hit-to-kill interceptor, the PAC-3 Missile canisters (each of which hold four PAC-3 Missiles, with four canisters per launcher), a fire solution computer and an enhanced launcher electronics system and launcher support hardware.

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