Lockheed scores USD4 b Pentagon contract

(MENAFN) The Pentagon announced a USD4 billion deal with Lockheed Martin Corp to supply missile defence equipment to the US and the UAE, The Peninsula reported. The deal is to buy Lockheed"s Terminal High Altitude Area Defense (THAAD) missile defence system designed to intercept ballistic missiles in the air. The deal, which includes 192 interceptors for the UAE and 110 interceptors for the US, is expected to bring savings of 10 percent for the US.