US Army Awards $309M Worth Contracts To Javelin JV

Akanksha Bakshi
·1 min read

  • The U.S. Army recently awarded the Javelin JV two production contracts for Javelin missiles and associated equipment and services with a total value of $309 million.

  • Javelin JV is a partnership of Raytheon Technologies Corp (NYSE: RTX) Raytheon Missiles & Defense, and Lockheed Martin Corp (NYSE: LMT).

  • The contracts include more than 1300 Javelin missiles funded from the Ukraine Supplemental Appropriations Act and orders for several international customers, including Norway, Albania, Latvia, and Thailand.

  • Lockheed Martin is investing in expanding missile production beyond the present rate of 2,100 per year. Raytheon is also investing to boost the manufacture of the reusable, lightweight command launch unit.

  • Price Action: LMT shares are trading higher by 0.56% at $437.61 and RTX higher by 1.05% at $92.89 on the last check Monday.

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