Congress Asked to Greenlight Sale of 500 Hellfire Missiles to Iraq

The U.S. Defense Security Cooperation Agency notified Congress Thursday of plans to sell the Iraqi Army as many as 500 AGM-114K/R Hellfire Missiles. Including the value of associated equipment, parts, training, and logistical support, this sale could be worth $82 million to Hellfire manufacturer and principal contractor Lockheed Martin (NYSE: LMT  ) .

As DSCA explained in its notice, the sale of these weapons "will contribute to the foreign policy and national security of the United States by helping to improve the security of a strategic partner" -- Iraq -- which is currently under attack by al-Qaeda elements infiltrating the company from war-torn Syria.

"Iraq will use the Hellfire missiles to help improve the Iraq Security Forces' capability to support current on-going ground operations," said DSCA. If any missiles are left over after these operations conclude, "Iraq will also use this capability in future contingency operations."

According to DSCA, "There will be no adverse impact on U.S. defense readiness as a result of this proposed sale." Nor will the sale "alter the basic military balance in the region." 


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

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: 2807508, ~/Articles/ArticleHandler.aspx, 10/1/2014 2:14:38 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...

Apple's next smart device (warning, it may shock you

Apple recently recruited a secret-development "dream team" to guarantee its newest smart device was kept hidden from the public for as long as possible. But the secret is out. In fact, ABI Research predicts 485 million of this type of device will be sold per year. But one small company makes Apple's gadget possible. And its stock price has nearly unlimited room to run for early-in-the-know investors. To be one of them, and see Apple's newest smart gizmo, just click here!


Advertisement