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Lockheed Martin Receives $611 Million Contract For Production Of First PAC-3 MSE Missiles

Stocks in this article: LMT

DALLAS, April 30, 2014 /PRNewswire/ -- Lockheed Martin [NYSE: LMT] received a $611 million contract from the U.S. Army Aviation and Missile Command for the first production order of the PAC-3 Missile Segment Enhancement (MSE) following the Army's successful Milestone C decision earlier this year. The contract includes the production of both PAC-3 MSE missiles and Launcher Modifications Kits (LMKs).

The PAC-3 MSE's revolutionary two-pulse solid rocket motor provides increased performance in both altitude and range – while employing the same proven hit-to-kill technology that the PAC-3 Missile uniquely brings to the Patriot system.

In 2003, Lockheed Martin received a contract to increase the altitude and range of the PAC-3 missile.  The missile received the larger, more powerful dual-pulse motor for added thrust, along with larger fins and other structural modifications for more agility.

The larger fins collapse to allow the missile to fit into the current PAC-3 launcher, and give the interceptor more maneuverability against faster and more sophisticated ballistic and cruise missiles.

The launcher modification kits enable the Patriot Configuration 3 launcher to control and launch the hit-to-kill PAC-3 Missiles, as well as heritage Patriot missiles.

"These enhancements are the natural, pre-planned evolution of a system that was first demonstrated 20 years ago," said Scott Arnold, vice president of PAC-3 programs at Lockheed Martin Missiles and Fire Control.   "Every current Patriot-using nation is a candidate to upgrade their PAC-3 systems to the PAC-3 MSE."

Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2013 were $45.4 billion.

For additional information, visit our website: http://www.lockheedmartin.com

SOURCE Lockheed Martin

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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