Friday, March 12, 2010

UK Awards Javelin Joint Venture $176 Million for Javelin Missile Rounds

UK Awards Javelin Joint Venture $176 Million for Javelin Missile Rounds
December 17, 2009

TUCSON, Ariz., -- The Raytheon Company (NYSE: RTN) - Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $176 million contract from the United Kingdom's Ministry of Defense for more than 1,300 Javelin missile rounds and associated engineering support.

"The current battlefield requires precision at all levels of the fight, and Javelin meets the need for precision at both the platoon and squad levels," said Duane Gooden, program director of Raytheon's Javelin program and president of the Javelin Joint Venture. "Javelin is the weapon of choice for infantry, special operations and rapid reaction forces due to its unmatched lethality, versatility and gunner survivability."

Javelin is the world's first man-portable, fire-and-forget, multipurpose missile system. The compact, lightweight missile is designed for one-soldier operations in all environments. The joint venture will begin delivering missiles to the U.K. in 2010 and continue through 2012.

The 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 at ranges up to two and a half kilometers (1.6 miles). Javelin is currently in service with the U.S. Army, U.S. Marine Corps and 11 allied customers.

"Because the Javelin automatically guides itself to the target after launch, the missile system allows the gunner to either take cover to avoid counterfire or engage another threat," said Barry James, program director of Lockheed Martin Javelin program and vice president of the Javelin Joint Venture.

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