March 24, 2020 / 9:28 PM / 13 days ago

UPDATE 1-Lockheed gets $932 million Pentagon contract for THAAD interceptors

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By Mike Stone

WASHINGTON, March 24 (Reuters) - Lockheed Martin Corp was awarded a $932 million Pentagon contract on Tuesday for THAAD interceptor missiles, some of which are slated to be delivered to the Kingdom of Saudi Arabia.

The new contract was a modification to a previously awarded agreement to produce the Terminal High Altitude Area Defense (THAAD) interceptor for Saudi Arabia, the Pentagon said.

Saudi and U.S. officials signed letters of offer and acceptance formalizing terms for Saudi Arabia’s purchase of 44 THAAD launchers, missiles and related equipment in November 2018.

Lockheed Martin, the biggest U.S. arms maker, builds and integrates the THAAD system, which is designed to shoot down short-, medium- and intermediate-range ballistic missiles. Raytheon, another U.S. firm, builds its advanced radar. (Reporting by Mike Stone in Washington Editing by Chris Reese and Sonya Hepinstall)

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