Wire: Lockheed Gets $1 Billion Pentagon Aegis Deal

Off the Wire:

WASHINGTON, Oct. 22, 2009 -- Newswire services today reported that Lockheed Martin Corp (LMT.N) is being awarded a $1 billion U.S. Missile Defense Agency contract for design and development work on its Aegis ballistic missile defense system for Navy cruisers and destroyers, the U.S. Defense Department said Wednesday.

The Aegis system is designed to intercept ballistic missiles post boost-phase and prior to re-entry.

A Reuters news service report noted that the contract covers work from Oct. 1, 2009 through Dec. 31, 2014, the Pentagon's daily contract digest said.

Work is to be performed in Moorestown, N.J., The Associated Press said.

(Report from newswire sources.)