Orlando Business Journal 1/31/2018 By Matthew Richardson
A global defense company's Orlando unit landed a major deal for production of a powerful missile on Jan. 30.
Lockheed Martin's Missiles & Fire Control in west Orlando won an $80.2 million contract from the U.S. Army to ramp-up production of its Hellfire missiles. Lockheed Martin will increase production to up to 11,000 missiles per year. All of the work will be performed in Orlando, according the the U.S. Department of Defense.
The contract has a Sept. 30, 2021, completion date.
Lockheed Martin's Missiles & Fire Control in Orlando has more than 4,000 employees and often grabs big contracts for its Hellfire missile. Last year, the company won $548 million to make more than 7,000 Hellfire missiles.
Lockheed Martin (NYSE: LMT) was not the only firm to score a contract with local work, either.
Andromeda Systems Inc. got an $18.5 million contract to perform logistics services for the U.S. Navy. Most of the work will take place in California, but a small part will happen in Orlando. The contract has a February 2023 completion date.
More:
https://www.bizjournals.com/orlando/news/2018/01/31/lockheed-martins-orlando-units-grabs-80-2m.html?ana=yahoo&yptr=yahoo
