The United States Department of Defense awarded Lockheed Martin a $58.62 billion contract

ON 29 JULY, THE UNITED STATES DEPARTMENT OF DEFENSE AWARDED LOCKHEED MARTIN (NYSE: LMT) A SEVEN-YEAR CONTRACT OF $53.86 BILLION FOR THE PRODUCTION OF PAC-3 MISSILE BOOSTERS, TOTALLING $58.62 BILLION. THIS CONTRACT IS ONE OF THE LARGEST SINGLE CONTRACTS IN LOCKHEED ' S HISTORY, REFLECTING STRONG DEMAND FOR MISSILES. ACCORDING TO REPORTS, FEWER THAN 800 PATRIOT MISSILES ARE CURRENTLY IN UNITED STATES STOCKPILES, A 65 PER CENT REDUCTION FROM THE PRE-WAR LEVEL OF 2330. IN RESPONSE TO DEMAND, LOCKHEED PLANS TO TRIPLE PAC-3 MSE PRODUCTION CAPACITY BY 2030 AND INCREASE THE NUMBER OF EMPLOYEES FROM 1,200 TO 1850 IN CANDON, ARKANSAS. THE COMPANY ALSO PLANS TO INVEST BETWEEN $8 BILLION AND $9 BILLION IN THE CONSTRUCTION OF FACILITIES BY 2030, INCLUDING NEW AMMUNITION CENTRES IN ALABAMA AND CANDON。