Lockheed Wins $755M Missile Procurement Contract

Law360, New York (January 3, 2013, 10:14 PM EST) -- Defense giant Lockheed Martin Corp. has won a $755 million contract for the procurement of Patriot advanced capability-3 missiles, the U.S. Department of Defense said Thursday.

The Pentagon announced the fixed-price PAC-3 award in its daily digest of procurements. The department said work on the project would be performed in Texas, Arkansas, Massachusetts and Florida and would be completed in 2015. The Pentagon had solicited and received only one bid for the system, the government said.

PAC-3 missiles are high-velocity, so-called hit-to-kill missiles designed to destroy...
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