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Saturday, March 29, 2014

Lockheed says wins first production order for new PAC-3 missiles

Patriot PAC-3Lockheed Martin Corp has won a U.S. Army contract worth $611 million to build 92 missiles and 50 launcher modification kits, the company's first production contract for a new enhanced missile designed to upgrade the Patriot missile defense system.

The Pentagon announced the contract modification late Friday, and said a total of $874 million, including funding from fiscal 2013 and 2014, was now available for Lockheed's work on the new missiles through May 31, 2016.

Lockheed's Patriot Advanced Capability-3 Missile Segment Enhancement (PAC-3 MSE) adds a larger, more powerful motor to extend the missile's reach by 50 percent, and larger fins and other structural modifications to help the weapon intercept faster and more sophisticated ballistic and cruise missiles.

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