Tuesday, September 7, 2010

Lockheed Martin to Finalise Sale of THAAD ABM to UAE Next Year

Ivan Gale

Lockheed Martin, the US defence and aerospace giant, expects to finalise the sale of a sophisticated missile defence system to the UAE next year in a deal that could be worth up to US$7 billion (Dh25.7bn), the company’s chief executive said.

A deal for the theatre high altitude area defence (THAAD) system would be the first international sale of the sensitive defence technology and provide the UAE with an upper-altitude layer of missile defence in addition to a Patriot missile system to be delivered next year.The projected sale is “probably the most significant international order opportunity” among missile defence systems for now, Robert Stevens, Lockheed’s chairman and chief executive, told a Morgan Stanley conference on Wednesday.
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