Lockheed gets $932 million Pentagon contract for THAAD interceptor missiles

A Lockheed Martin Terminal High Altitude Area Defense (THAAD) missile interceptor is seen during the third annual "Made in America Product Showcase" on the South Lawn of the White House in Washington, US, July 15, 2019. (Reuters)

Lockheed Martin was awarded a $932 million Pentagon contract on Tuesday for THAAD interceptor missiles, some of which are slated to be delivered to the Kingdom of Saudi Arabia.

The new contract was a modification to a previously awarded agreement to produce the Terminal High Altitude Area Defense (THAAD) interceptor for Saudi Arabia, the Pentagon said.

Saudi and US officials signed letters of offer and acceptance formalizing terms for Saudi Arabia’s purchase of 44 THAAD launchers, missiles and related equipment in November 2018.

Lockheed Martin, the biggest US arms maker, builds and integrates the THAAD system, which is designed to shoot down short-, medium- and intermediate-range ballistic missiles.

Raytheon, another US firm, builds its advanced radar.

Last Update: Wednesday, 20 May 2020 KSA 09:54 - GMT 06:54