LOCKHEED AWARDED CONTRACT; FIRM WILL BUILD MISSILES.Byline: Jim Skeen Daily News Staff Writer Lockheed Martin For the former company, see . Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta. has won a Pentagon contract to build an advanced cruise missile cruise missile, low-flying, continuously powered offensive missile designed to evade defense systems. Although the German V-1 (1944) was a simple cruise missile, the cruise missile did not realize its potential until the 1970s, when the United States sought to , a $2 billion-plus effort that will employ 90 to 100 people in Palmdale. Lockheed Martin was selected over Boeing to build the Joint Air-to-Surface Standoff Missile, or JASSM JASSM Joint Air-to-Surface Standoff Missile - a long-range, non-nuclear weapon intended to destroy important, well-defended targets. Lockheed Martin Skunk skunk, name for several related New World mammals of the weasel family, characterized by their conspicuous black and white markings and use of a strong, highly offensive odor for defense. Works in Palmdale will build 60 JASSMs and tips for 80 others. Lockheed Martin Electronics and Missiles of Orlando, Fla., is the other major partner in the JASSM effort. ``Obviously we're pleased,'' said Greg Campbell, an aide to Rep. Howard ``Buck'' McKeon, R-Santa Clarita, whose district includes the Skunk Works plant. ``There will be 100 people initially doing the design and they'll carry over as they get into the engineering and manufacturing development phase.'' The contract, with options carrying through to the initial production phase, runs through August 2001. The Air Force wants 2,400 JASSMs. The Navy has not announced how many missiles they want. The contract was awarded to Lockheed Martin Integrated Systems, an administrative business unit formed to coordinate ventures involving more than one of the corporation's units. While the contract was awarded to LMIS LMIS Liquid Metal Ion Source LMIS Logistics Management Information System LMIS Labour Market Information System LMIS Lockheed Martin Integrated Systems LMIS Lockheed-Martin Information System LMIS Laboratory Management Information System , the corporation's electronics and missiles company will be the lead organization on the program. ``This win is strategically important because it builds on Lockheed Martin's leadership in precision strike systems and especially because it enables Lockheed Martin to enter the cruise missile market,'' said Mickey Blackwell, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Lockheed Aeronautics. |
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