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Lockheed Martin Reports Rapid Delivery of PAC-3 Missile Segment Enhancement Components From GM Defense

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Lockheed Martin (LMT) received the first delivery of components made by General Motors' (GM) GM Defense for the PAC-3 Missile Segment Enhancement interceptor missile less than one month after the companies signed a contract, Lockheed said Thursday.

The rapid delivery from GM Defense underscores the effectiveness of defense and commercial partnerships, the company added.

"Our partnership with GM Defense is a concrete example of how we're merging world-class commercial manufacturing with defense supply chain and production practices and rapidly translating that into battlefield readiness for the [US]," said Lockheed Martin Missiles and Fire Control President Tim Cahill.

Lockheed said it is investing $8 billion to $9 billion to boost munitions production, with new facilities, expansions and more jobs at over 20 sites in the US.

The companies signed a formal deal Aug. 6. GM Defense delivered the first batch of components Aug. 28, according to Lockheed.

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