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Lockheed Martin Wins Patriot Contract Worth Nearly $1.6 Billion

Rich Abott By
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Lockheed Martin Wins Patriot Contract Worth Nearly $1.6 Billion
Patriot Launcher Photo: Raytheon.

Army Contracting Command on Thursday awarded Lockheed Martin [LMT] a contract modification worth nearly $1.6 billion for Patriot missiles, associated equipment and spares.The modification concerns contract W31P4Q-14-C-0034, delivering Patriot missiles and associated equipment to South Korea, Qatar, Taiwan, the United Arab Emirates, and Saudi Arabia.Work is set to be performed at facilities in Grand Prairie, Texas; Lufkin, Texas; Camden, Ark.; Chelmsford, Mass.; Ocala, Fla.; Huntsville, Ala.; and Anaheim, Calif. The estimated completion date is June 20, 2018, the Army said…

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