The Army late last month awarded Lockheed Martin [LMT] a $263.4 million PAC-3 missile production contract. A total of $23.8 million in FY 2014 Army “Other Procurement” funds were obligated at the time of the Dec. 31 award. The estimated completion date of the work is June 30, 2016 The effort includes 56 PAC-3 Cost Reduction Initiative (CRI) missiles for the U.S. Army, seven Launcher Modification Kits (LMKs), one Portable 4-Pack Test Set and Initial Spares for Kuwait, as well…
