May 5, 2009
CAMDEN, ARKANSAS, May 05, 2009 -- Lockheed Martin [NYSE: LMT] broke ground today on an expansion of its state-of-the-art Patriot Advanced Capability-3 (PAC-3 ) Missile production complex in Camden, AR. Lockheed Martin anticipates that the new facility will allow for continued production expansion and modest hiring of new employees over the next several years.
The new 71,000 square-foot PAC-3 All Up Round (AUR) II building will be built on Camden Operations' campus adjacent to the existing 40,000-square-foot PAC-3 AUR I facility. The facility will be completed in early 2010.
"After a thorough examination of our current PAC-3 production complex, Lockheed Martin determined that the addition of the new PAC-3 AUR II building is vital to maintaining the high levels of quality and capability our customers demand," said Glenn David Woods, site director of Lockheed Martin Missile and Fire Control's Camden Operations. "We take great pride here in Camden in playing a pivotal role in producing the world's most advanced, capable and powerful terminal air defense missile, because it serves our Warfighters in their defining moments."
"We are extremely pleased to continue to grow our service to the U.S. Army and the Camden community," said Richard McDaniel, director of the PAC-3 Programs for Lockheed Martin Missiles and Fire Control. "The expansion of the PAC-3 Missile production complex strengthens our commitment and ability to meet our customer's needs."
Camden Operations produces the combat-proven Multiple Launch Rocket System (MLRS) launcher and a family of munitions, which includes the Guided MLRS Unitary Rocket, and the battle-proven High Mobility Artillery Rocket System (HIMARS) launcher, which fires MLRS rockets and Army Tactical Missile System (ATACMS) missiles. Camden is the home of the combat-proven PAC-3 Missile, which has been in production since late 2001. One hundred percent successful in Operation Iraqi Freedom, PAC-3 is the world's most advanced hit-to-kill air defense missile.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
Lockheed Martin (NYSE:LMT)