Lockheed Wins Initial Deal For Saudi THAAD Air Defense System

The Pentagon has contracted Lockheed Martin to supply Saudi Arabia with the Terminal High-Altitude Area Defense (THAAD) system, reports CNBC. 

On Monday, the U.S. Missile Defense Agency awarded Lockheed Martin Missile and Fire Control, Dallas, Texas, a US$945.9 million Foreign Military Sales contract for Phase I long lead items, obsolescence, tooling and test equipment and associated support for the project, the Pentagon said. 

Work under the contract is scheduled to be completed...