LaBarge awarded Lockheed Martin Aegis weapon system program contract
Dec 13, 2006
LaBarge, Inc. (AMEX: LB) has been awarded a contract from Lockheed Martin (NYSE: LMT) to continue its role producing circuit card assemblies for the Aegis Weapon System's signal processor. Financial terms were not disclosed.
The Lockheed Martin-developed Aegis Weapon System is the world's premier naval surface weapon system. It seamlessly integrates the AN/SPY-1D(V) radar, the Mk 41 Vertical Launching System and a family of U.S. Navy missiles with its own command and control system. Aegis also is the heart of the U.S. Navy's sea-based missile defense system, one of the first operationally deployed components of the nation's layered network of defenses against cruise and ballistic missile attacks. Currently, Aegis Weapon Systems are on 80 Navy cruisers and destroyers around the world. Plans are currently underway to install the system on an additional 25 U.S. and international warships.
Production on this contract is expected to begin in July 2007 and continue through April 2008 at LaBarge's Huntsville, Ark., facility.
A four-time recipient of the U.S. Navy's prestigious Aegis Excellence Award, LaBarge's long-term involvement with the Aegis program includes a variety of high-performance electronic assemblies, which it has manufactured for more than a decade.