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Lockheed Martin receives THAAD contract

Lockheed Martin Corp., of Bethesda, the world’s largest defense contractor, announced it has received a production contract valued at $3.9 billion to produce elements of the Terminal High Altitude Area Defense (THAAD) Weapons System for the Defense Department’s Missile Defense Agency and the United Arab Emirates.

The contract includes the manufacture and delivery of a maximum of 110 interceptor missiles for the U.S. Army, including the fiscal 2014 option.

The contract also includes interceptors and other ground hardware for the UAE.

THAAD is a weapon system capable of destroying incoming short- and medium range and ballistic missiles.