By Marina Malenic The Pentagon's multibillion dollar Joint Air-to-Surface Standoff Missile (JASSM) will not suffer from cost overruns resulting from faulty components discovered in testing last year, the Air Force program manager for the stealthy cruise missile said last week. JASSM prime contractor Lockheed Martin [LMT] will absorb all costs related to retrofits needed to replace the faulty cables and fuzes, Col. Stephen Demers told Defense Daily in a Nov. 13 telephone interview. Demers said the four failures in Lot…
Lockheed Martin To Absorb JASSM Retrofit Costs, Air Force Says
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