Lockheed Martin clinches $4bn UAE missile deal
Washington, September 21, 2013
The Pentagon said it has finalized a contract worth $4 billion with Lockheed Martin Corp to supply equipment for a missile defense system to the US and the UAE and is in talks with Qatar on a similar sale.
The deal involves Lockheed's Terminal High Altitude Area Defense (THAAD) missile defense system that is designed to intercept ballistic missiles in midair.
The contract reflects growing confidence and demand for the missile defense system, said Riki Ellison, founder of the non-profit Missile Defense Advocacy Alliance.
The deal, which has been in negotiation for several years, will combine orders for the US and UAE, generating savings for the United States of about 10 per cent, said Mat Joyce, Lockheed program manager for THAAD.
The United States is in talks with Qatar on a similar sale. Saudi Arabia, Japan and South Korea have also expressed interest, Joyce said.-Reuters