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Lockheed Martin signs Pike County facility agreement with Alabama
Investing.com - Lockheed Martin (NYSE:LMT) announced on Tuesday that it has signed an agreement with Alabama to support its manufacturing facility in Pike County, with plans to invest over $150 million in the facility over the next five years.
The defense contractor will increase staffing at the facility to boost production and meet the growing demand for munitions.
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The Pike County facility produces hardware for key weapons and missile systems, including terminal high-altitude area defense (THAAD), Javelin missiles, Hellfire missiles, and anti-missile systems.
As conflicts in the Middle East continue and the war between the U.S., Israel, and Iran enters its 11th day this week, the demand for missiles and missile defense systems is expected to grow rapidly.
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