$176 Million Contract Awarded to Lockheed Martin-Raytheon Joint Venture

The Javelin Joint Venture between Lockheed Martin (NYSE: LMT  ) and Raytheon Company (NYSE: RTN  ) received a $176 million contract in September to produce and deliver 842 Block I Javelin missile rounds and 120 command launch units (CLUs), the companies announced today. The units will be delivered starting in October to the U.S. Army and Marine Corps as well as three international customers: Oman, Jordan, and Indonesia.

"This contract allows us to provide to our customers one of the most reliable and user-friendly systems in the world," said Barry James, Lockheed Martin Javelin program director and Javelin Joint Venture vice president, in a press release. "Javelin has proven and continues to prove itself time and time again in combat."

Javelin is a compact, lightweight missile that enhances direct-fire capability against armored vehicles, buildings, and field fortifications. The system enables a single infantryman to engage targets in close combat and at ranges up to two-and-a-half kilometers. Currently, the Javelin is used with the U.S. Army and U.S. Marine Corps and is also approved for sales to 13 foreign nations.

"The Javelin Joint Venture is providing U.S. and allied warfighters with an affordable, versatile and lethal one-man-portable, anti-tank, guided missile and surveillance weapon," said Jeff Miller, Raytheon Javelin program director and Javelin Joint Venture president, in a press release. "This contract is important to the Javelin program because the CLU retrofit business keeps our production line warm through mid-2015."

link


Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2732621, ~/Articles/ArticleHandler.aspx, 9/17/2014 9:39:37 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 12 hours ago Sponsored by:
DOW 17,131.97 100.83 0.00%
S&P 500 1,998.98 14.85 0.00%
NASD 4,552.76 0.00 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/16/2014 4:01 PM
LMT $177.19 Up +1.59 +0.00%
Lockheed Martin Co… CAPS Rating: ***
RTN $101.71 Up +0.20 +0.00%
Raytheon Company CAPS Rating: ****

Advertisement