Javelin Joint Venture awarded $176 million for Javelin Weapon System
DUBAI, United Arab Emirates, Nov. 18, 2013 /PRNewswire/ -- The Raytheon Company (NYSE: RTN) and Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $176 million contract for the production and delivery of 842 Block I Javelin missile rounds and 120 command launch units (CLUs). The contract was awarded to the Javelin Joint Venture in September.
The missiles will be provided through the U.S. government to the U.S. Army, U.S. Marine Corps and three international customers: Oman, Jordan and Indonesia. Funded with Special Defense Acquisition Funds, the CLUs will be delivered to the U.S. Army beginning October 2014.
"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. "This contract is important to the Javelin program because the CLU retrofit business keeps our production line warm through mid-2015."
Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications. Using the Javelin missile system, a single infantryman can engage and defeat targets in close combat and at ranges up to two-and-a-half kilometers.
"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. "Javelin has proven and continues to prove itself time and time again in combat."
Javelin is a compact, lightweight missile designed for one-soldier operations in all environments. It is made by the Javelin Joint Venture, a partnership between Raytheon Company and Lockheed Martin. Javelin has been adopted by international armed forces around the world. It is currently fielded with the U.S. Army and U.S. Marine Corps, and has also been approved for foreign military sales to 13 nations.
About Lockheed Martin Corporation
Headquartered in Bethesda, Md., Lockheed Martin is a global security and aerospace company that employs about 116,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2012 were $47.2 billion. For additional information, visit our website: www.lockheedmartin.com.
Raytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
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SOURCE Raytheon Company
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