LM Receives $255 M US Army Contract For Guided MLRS Rocket Production
Lockheed Martin (NYSE: LMT ) received a $255 million contract in late 2013 from the U.S. Army for Lot 9 production of the Guided Multiple Launch Rocket System (GMLRS) Unitary rocket.
The new allotment of rockets will be delivered to the U.S. Army, Marine Corps and Republic of Italy. Delivery will begin in April 2015 . Work will be performed at the Lockheed Martin facilities in Camden, Ark. , and Dallas, Texas .
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"We are proud of the continued confidence our customers place in Lockheed Martin," said Ken Musculus, vice president of tactical missiles at Lockheed Martin Missiles and Fire Control. "Guided MLRS is a weapon that is trusted and proven in combat, and we will continue to deliver a reliable product."
GMLRS is an all-weather rocket designed for fast deployment that delivers precision strike beyond the reach of most conventional weapons. GMLRS Unitary rockets greatly exceed the required combat reliability rate and have established a reputation for affordability.
In combat operations, each GMLRS rocket is packaged in an MLRS launch pod and is fired from the Lockheed Martin HIMARS or M270 family of launchers. GMLRS is an international cooperative program among the U.S., France , Germany , Italy and the United Kingdom . Other international customers include Japan , Jordan , Singapore and the United Arab Emirates.
Lockheed Martin has produced more than 25,000 GMLRS rockets at its facility in Camden , Ark. The facility has received more than 60 awards over the last decade, including the 2012 Malcolm Baldrige National Quality Award and the Shingo Silver Medallion Award for Operation Excellence.
Headquartered in Bethesda, Md. , Lockheed Martin is a global security and aerospace company that employs approximately 115,000 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 .
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Source : Lockheed Martin Corporation (NYSE: LMT)