L3Harris Wins $250 Mln Rocket Motor Contract

(RTTNews) - L3Harris Technologies, Inc. (LHX), announced on Monday that it has received a $250 million follow-on contract from Lockheed Martin Corp. (LMT) to manufacture propulsion units for the Guided Multiple Launch Rocket System (GMLRS).

The company said the award represents the highest production quantity in program history and will be fulfilled at its new 60,000-square-foot Arsenal of Freedom facility in Camden, Arkansas, scheduled to open later this year.

L3Harris has produced GMLRS propulsion units for decades and also supplies the system's electronic safe-and-arm device and proximity sensor. The company said investments in automation and robotics will streamline solid rocket motor manufacturing and support expanded output for U.S. and allied partners.

On the NYSE, shares of L3Harris Technologies are currently gaining 0.42 percent, changing hands at $237.97