Lockheed Sells Rockets to UK

Lockheed Martin Corp. (LMT) on Tuesday said it received a $55 million order from Britain for its new Guided Multiple Launch Rocket System (GMLRS), the first international sale of the new weapon.

Bethesda, Maryland-based Lockheed said the initial contract calls for GMLRS rockets with the Dual Purpose Improved Conventional Munitions warhead, with an option to migrate to other GMLRS variants in the future.

Delivery is due to be completed by March 2007.

GMLRS (search) is an all-weather, precision-guided rocket with increased accuracy and a range of more than 70 kilometers.

The new rocket was developed under a cooperative program among the U.S., Britain, Italy, France and Germany.

Lockheed has received three contracts valued at over $290 million to produce more than 2,000 GMLRS rockets through 2006.