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Lockheed to lead joint effort to develop new missile defense system.
Knight Ridder/Tribune Business News, September, 2004
By Christopher Boyd, The Orlando Sentinel, Fla. Knight Ridder/Tribune Business News
Sep. 29--A joint venture led by Lockheed Martin said Tuesday it won a $3 billion contract to develop a replacement for the Patriot missile system.
MEADS International of Orlando, a consortium of Lockheed and two European defense contractors, is the acronym for Medium Extended Air Defense System, the working name for the new missile.
The United States government will fund 58 percent of the project, which will replace the Patriot ground-to-air missile systems in the United States and Germany and the Nike Hercules system in Italy. It is a nine-year contract.
MEADS International President Jim Cravens said his small staff would expand to more than...
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