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Monday, August 22, 2011

Lockheed trying to salvage MEADS


Lockheed Martin Corp. and its supporters are trying to rescue a multibillion-dollar missile-defense program from Pentagon budget cutters.

The Orlando-based program — known as the Medium Extended Air Defense System, or MEADS — lost its long-term production funding from the Defense Department earlier this year, though about $800 million was still allocated for final development work.

Now a territorial battle has erupted in Congress over whether the controversial missile-interceptor program, which could cost an estimated $18.5 billion, should live or die.

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