LOCKHEED MARTIN RECEIVES $619 MILLION CONTRACT TO BEGIN PRODUCTION OF THAAD WEAPON SYSTEM
DALLAS, TX, January 3, 2007 --
Lockheed Martin [NYSE: LMT] has been awarded a $619 million contract from the Missile Defense Agency (MDA) to begin production of the Terminal High Altitude Area Defense (THAAD) Weapon System. The contract for the first two THAAD fire units includes 48 interceptors, six launchers and two fire control and communications units. The system is scheduled for fielding in Fiscal Year 2009.
"This is a major milestone for the THAAD program," said Tom McGrath, Lockheed Martin vice president and THAAD program manager. “Lockheed Martin, our customers at MDA and the THAAD Project Office have been working together to ensure that warfighters receive a missile defense system they can count on to defend themselves and the assets they are protecting. Once fielded, THAAD will network with other systems and sensors to provide the layered missile defense capability required for the future.”
Final assembly, integration and testing of production equipment will take place at Lockheed Martin’s award-winning manufacturing facilities in Troy, AL, and Camden, AR.
The Lockheed Martin Pike County Operations in Troy includes a 46,000-square-foot, $12 million facility constructed specifically for THAAD interceptor integration, assembly and test operations. The Troy facility has been honored with INDUSTRYWEEK's "America's Best Plants" award, the Defense Investigative Service Cogswell Award, the 2002 Alabama "Manufacturer of the Year" award and the prestigious Shingo Prize for Excellence in Manufacturing Award in 2002.
Lockheed Martin's Camden Operations was selected as one of INDUSTRYWEEK magazine's "Top Ten Best Plants" for 2006. The Camden plant was selected for this recognition from more than 200 potential candidate facilities across North America.
THAAD is designed to defend U.S. troops, allied forces, population centers and critical infrastructure against short- to intermediate range ballistic missiles. THAAD comprises a fire control and communications system, interceptors, launchers and a radar. The THAAD interceptor uses hit-to-kill technology to destroy targets, and is the only weapon system that engages threat ballistic missiles at both endo- and exo-atmospheric altitudes.
A key element of the nation's Ballistic Missile Defense System (BMDS), THAAD is a Missile Defense Agency program, with the program office located in Huntsville, AL. The agency is developing a BMDS to defend the United States, its deployed forces, friends and allies against ballistic missiles of all ranges and in all phases of flight.
Lockheed Martin is a world leader in systems integration and the development of air and missile defense systems and technologies, including the first operational hit-to-kill missile. It also has considerable experience in missile design and production, infrared seekers, command and control/battle management, and communications, precision pointing and tracking optics, as well as radar and signal processing. The company makes significant contributions to all major U.S. missile defense systems and participates in several global missile defense partnerships.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2005 sales of $37.2 billion.
Cheryl Amerine, (972) 603-1157
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