LM Breaks Ground on New Production Facility

225,000-square foot building addresses U.S. government's JASSM inventory increase

U.S. Air Force and local Alabama officials joined Lockheed Martin (NYSE: LMT) executives today to break ground on the company's new strike systems production facility in Troy .

The planned 225,000-square-foot facility, combined with the current cruise missile production factory, will provide the necessary space to meet the U.S. Air Force's objectives.

"This expansion represents Pike County Operations' long-standing commitment to meet our customer's current and future needs as well as to bring more well-paying jobs to the area," said Frank St. John , executive vice president at Lockheed Martin Missiles and Fire Control. "All our employees come to work with an unwavering commitment to help our customers succeed in their mission to create a more secure and prosperous world."

Building construction is slated for completion in 2021 with Joint Air-to-Surface Standoff Missile Extended Range (JASSM-ER) production ramping up in the second half of 2022.

Lockheed Martin's Pike County Operations is the recipient of many continuous improvement and performance excellence awards.

Source: Lockheed Martin Corporation (NYSE: LMT)
Date: May 16, 2019