Business | General
UAE buys Patriot missiles
The United Arab Emirates is the first Middle East customer to buy Lockheed Martin Corp's Patriot Advanced Capability-3 (PAC-3) missile programme, the company said on Tuesday.
- Reuters
- Published: 23:29 December 24, 2008
Washington: The United Arab Emirates is the first Middle East customer to buy Lockheed Martin Corp's Patriot Advanced Capability-3 (PAC-3) missile programme, the company said on Tuesday.
Lockheed said it expects "in excess of $1.8 billion" in PAC-3 business over the life of the initial UAE programme.
The UAE purchase is part of a $774 million Pentagon contract, in which Lockheed will supply PAC-3 missiles to the US Army as well as the first sale to the UAE. Deliveries are to be completed by July 2011.
Other foreign buyers of the PAC-3 missile system, which is designed to destroy enemy missiles by colliding with them, include Germany, Japan and the Netherlands, the company said.
The new contract includes production of 172 PAC-3 missiles, 42 launcher modification kits and other equipment, Lockheed said.
Share this article
More from Business General
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
The brains behind campaigns
Chief executives likely to be guided more by bankers and consultants
-
Leaders blast Britain's green departure tax
UK government pulls out of UN body ahead of Copenhagen summit
-
Emirates could buy more aircraft
Airline plans new routes, expects demand to increase
