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Lockheed-Raytheon JV wins $309 million Javelin missile contract from U.S. army (May 16) -Breaking

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© Reuters. FILE PHOTO. Ukrainian soldiers hold a Javelin missile, which is located at the frontline in Ukraine’s north Kyiv Region, Ukraine, March 13th, 2022. REUTERS/Gleb Garanich/File Photo

This May 16th story corrected headline and paragraph 1. It was to clarify that the contract was not awarded to Lockheed but to the JV.

(Reuters) – A joint venture between Lockheed Martin Corp (NYSE -) and Raytheon Technologies (NYSE -) Corp was awarded two contracts totaling $309,000,000 by the U.S. military for its Javelin rockets. This antitank weapon has assisted Ukraine in fighting Russia’s invasion. Lockheed stated Monday.

Lockheed’s and Raytheon’s (NYSE:) missile units jointly make the Javelin missiles.

The demand for Javelin rockets continues to rise as Ukraine’s war worsens. These missiles were previously used to keep Russian tanks out of Kiev, and also to fight an artillery fire in Ukraine’s eastern.

Up to now, more than 5,500 Javelin systems from the United States have been sent to Ukraine.

According to the defense contractor, the contracts included more than 1300 Javelin missiles, which were funded by the Ukraine Supplemental Appropriations Act, and several orders from international customers, including Norway, Albania and Latvia.

Lockheed said it also plans to boost its annual missile production beyond 2,100.

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