Lockheed Martin Awarded $104 Million PAC-3 Contract

By Dan Dupont / December 1, 2000 at 5:00 AM
Lockheed Martin has won a $104 million contract modification for low-rate production of the Patriot Advanced Capability-3 missile, the Defense Department announced today. The contract, which covers missiles and ground support, has a "not-to-exceed" limit of $212.4 million, DOD said. The PAC-3 program has been embroiled in controversy over the last few months as costs have skyrocketed. Inside the Army reported this week that the Army has decided to restructure the program because of those cost increases, and more changes...

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