HERCULES AEROSPACE COMPANY SELECTED FOR DESIGN AND DEVELOPMENT OF ADVANCED ROCKET MOTOR FOR A NEW EXTENDED-RANGE PATRIOT MISSILE
HERCULES AEROSPACE COMPANY SELECTED FOR DESIGN AND DEVELOPMENT
OF ADVANCED ROCKET MOTOR FOR A NEW EXTENDED-RANGE PATRIOT MISSILE
WILMINGTON, Del., March 5 /PRNewswire/ -- Hercules Incorporated (NYSE: HPC) announced today that its Aerospace Company has been selected to design and develop an advanced rocket motor for a new Extended-Range Patriot Missile.
The work will be performed over a two-year period at the company's Allegany Ballistics Laboratory at Rocket Center, W.Va.
The Patriot antimissile and antiaircraft defense system was used successfully in Operation Desert Storm to intercept and destroy Iraqi- launched SCUD missiles. The advanced rocket motor to be developed by Hercules will extend the range of the Patriot, enabling it to intercept incoming missiles farther from target areas. The design and development work is expected to lead to production contracts for the Extended Range Patriot.
The Hercules motor design will use a lightweight graphite composite case and an advanced propellant to deliver improved performance to the Patriot missile system.
Hercules will be a subcontractor to Martin Marietta Electronics and Missiles, Orlando, Fla. Raytheon Company (NYSE: RTN), Bedford, Mass., is the prime contractor for the Patriot missile system.
This significant contract win for Hercules Aerospace follows the recent award of competitive contracts for the AN/AAR 47 missile-warning system for aircraft; the High Speed Anti-Radiation Missile (HARM), aircraft launched, radar-suppression missiles; as well as a follow-on production contract for Delta II Graphite Epoxy Motors (GEM) for space- launch vehicles, and new orders for Pegasus air-launched space boosters. The AN/AAR 47 work will be performed at Hercules' Clearwater, Fla., Defense Electronics Systems business unit. The HARM rocket motors are produced at the McGregor, Texas, plant and the Delta II GEM and Pegasus motors are produced at Magna, Utah.
The combined value of these contracts and new orders is more than $160 million. Including all contract options for future buys, the contracts have a potential value of more than $600 million.
The contract wins are credited to a combination of technological advantages and cost-improvement initiatives in the Hercules Aerospace Company. Hercules Aerospace continues to position itself for the rapidly changing nature of the traditionally defense-oriented aerospace market. The declining emphasis on strategic weapons delivery systems will be partially offset by sales of space launch propulsion systems for Titan IV, Delta II and Pegasus. The company also has contracts for many of the so-called "smart weapons" systems that the Department of Defense is relying upon to remain strong as conventional forces are reduced in size.
-0- 3/5/92 R
/CONTACT: D.R. Kirtley of Hercules, 302-594-6918/
(HPC RTN) CO: Hercules Aerospace Company; Martin Marietta Electronics and
Missiles; Raytheon Company ST: Delaware, West Virginia, Florida, Massachusetts, Texas, Utah IN: ARO SU: CON
LJ-MP -- PH007 -- 5396 03/05/92 11:09 EST