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Saturday, September 21, 2013

Lockheed Martin clinches $4 billion Pentagon missile defence deal

THAAD Missile LauncherThe Pentagon said on Friday it has finalized a contract worth $4 billion (2.5 billion pounds) with Lockheed Martin Corp to supply equipment for a missile defence system to the United States and the United Arab Emirates.

The deal involves Lockheed's Terminal High Altitude Area Defence (THAAD) missile defence system that is designed to intercept ballistic missiles in midair.

The contract reflects growing confidence and demand for the missile defence system, said Riki Ellison, founder of the non-profit Missile Defence Advocacy Alliance.

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