Lockheed Martin [NYSE: LMT] broke ground today for its Pike County Operations’ Long Range Strike Systems cruise missile production annex in Troy, Ala.
The planned 62,000 square-foot annex will expand the existing 92,000-square-foot manufacturing facility where the Joint Air-to-Surface Standoff Missile (JASSM) is produced. The facility also produced test missiles for the Long Range Anti-Ship Missile (LRASM) development program. Construction is slated for completion by first quarter 2015.
“Our cruise missile family of systems, in production and in development, plays a critical role in the nation’s defense strategy,” said Frank St. John, vice president of tactical missiles and combat maneuver systems at Lockheed Martin Missiles and Fire Control. “With this expansion, we plan to leverage our mature and reliable cruise missile production experience to offer affordable, low-risk, long-term capability to warfighters.”
The expansion, a response to an increased demand for Lockheed Martin’s cruise missiles, is expected to increase employment by approximately 10 percent over the next few years. The facility employs approximately 300 full-time employees and over 100 contractors.
“Lockheed Martin is willing to invest in Pike County because our employees here demonstrate a commitment to quality, excellence and affordability,” said Dave Anderson, site director of Lockheed Martin Missiles and Fire Control’s Pike County Operations.
Pike County Operations has been recognized for its commitment to continuous improvement and performance excellence. In 2012, it received IndustryWeek magazine’s “Best Plant” award and the Alabama Performance Excellence Award. It was also a 2012 recipient of the U.S. Department of Commerce’s Malcolm Baldrige National Quality Award for performance excellence, along with all Lockheed Martin Missiles and Fire Control sites.
Source: Lockheed Martin Corporation (NYSE: LMT)
Date: Feb 27, 2014