Stock Groups

Biden to visit Alabama Lockheed plant, highlight Javelin missiles -Breaking

[ad_1]

2/2
© Reuters. FILE PHOTO – A RAF Lockheed Martin F-35B fighter aircraft taxis down a runway, after landing at Fairford Royal International Air Tattoo on July 8, 2016, in Britain. REUTERS/Peter Nicholls/File Photo

2/2

Mike Stone and Steve Holland

WASHINGTON, (Reuters) – President Joe Biden travels to Alabama Tuesday for a visit to a Lockheed Martin (NYSE) A facility which produces the anti-tank Javelin ballistic missile. It is now the focus of attention on a weapon that helped Ukraine defeat Russia’s invasion.

According to White House Press Secretary Jen Psaki, Biden will make use of the opportunity to visit Congress and press Congress for approval of his $33 billion aid package to Ukraine. This includes more than $20 billion worth in military assistance.

Biden said she would “remind the people of the country why we’re fighting and why we support the Ukrainians during this conflict, what type of equipment we provide from the United States , and why it’s urgent to secure this funding.”

The topic of aid to Ukraine is not a matter for partisan bickering between lawmakers. It is still a significant sum and legislative proposals can be affected by Washington political polarization. Biden, a Democrat is in the state to see if it can avoid that result.

After Russia invaded Ukraine on Feb. 24, Russia sent US forces to rush $3.4 billion of weapons to Ukraine. This includes howitzers, antiaircraft Stinger systems and Javelins as well ammunition and body armor.

As the war moves from Kyiv (where they are used to prevent Russian tanks from attacking the capital), to an artillery clash in Ukraine’s eastern, the demand for Javelin missiles is high.

According to the Pentagon, more than 5,500 Javelins have been sent by the United States so far to Ukraine. Ukrainian officials reported that 1,026 Russian tanks were destroyed in a Sunday bulletin.

At an Atlantic Council seminar, Jim Taiclet (Lockheed’s chief executive) said that Ukraine is asking for more. According to him, the company is looking for ways to grow its production capacities at Troy, Alabama, and in other areas.

Raytheon Technologies, NYSE:), and Lockheed co-produce Javelins. Raytheon Technologies (NYSE;) produces Stingers.

Lockheed claimed that its Troy facility has 600 employees, produces five types missile types, and is the last assembly plant to build the Javelin system’s 2,100-per-year production line.

Lockheed is investing in Javelin production and could use its own money to speed up contracts with subcontractors. Supply chain issues can complicate any increase.

Daily, the Pentagon checks on U.S. weapons stockpiles and component inventories.

[ad_2]