Thursday, January 31, 2013

LM Receives $ 197 million U.S. Army Guided MLRS Rocket Contract For Production

Lockheed Martin [NYSE: LMT] received a $ 197 million contract option from the U.S. Army for Guided Multiple Launch Rocket System (GMLRS) Unitary rocket production.

This contract option was attached to the GMLRS Production Lot 7 contract, Which now HAS Funded total value of $ 550.8 million. The GMLRS Production Lot 7 contract was Originally Awarded to Lockheed Martin in July 2012. This move Enables the department to pay less for each Stock rocket than if a separate contract in 2013 producing Were issued.

"Our top priority is to Ensure That our Warfighters are equipped with the MOST effective, affordable and dependable weapon system available, and we're proud That GMLRS That meets standard," Said Scott Arnold, vice president of precision fires at Lockheed Martin Missiles and Fire Control.

The new allotment of rockets will be Delivered to the U.S. Army and Marine Corps Beginning in September 2014. Work will be Performed at the Lockheed Martin facilities in Camden, Ark.., And Dallas.

GMLRS is an all-weather, long-range rocket designed for fast deployment That Delivers precision strike beyond the reach of conventional weapons MOST. GMLRS Unitary rockets Greatly Exceed the required rate and reliability struggle, established a reputation for Have affordability.

Lockheed Martin HAS produced more than 20.000 GMLRS rockets. In combat operations, each Stock is packaged rocket MLRS launch pod in year and is fired from the Lockheed Martin HIMARS or M270 family of launchers.

Lockheed Martin Missiles and Fire Control is a 2012 recipient of the U.S. Department of Commerce's Malcolm Baldrige National Quality Award for performance excellence. The Malcolm Baldrige Award Represents the Highest Honor That Can Be Awarded to American companies for Their achievements in leadership, strategic planning, customer relations, measurement, analysis, workforce excellence, operations and results.

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