(NSI News Source Info) WASHINGTON, - August 18, 2010: Lockheed Martin Corp (LMT.N) offered to assume additional liability to start production of part of the multibillion dollar U.S. shield against ballistic missiles, the head of the U.S. Missile Defense Agency said on Tuesday.Army Lieutenant General Patrick O'Reilly told reporters he thought it was fair for Lockheed to take financial responsibility for costs related to any further production delays involving interceptor missiles for its Terminal High Altitude Area Defense, or THAAD.
"So I'm very open to do that with Lockheed," O'Reilly told a defense writers' breakfast, adding that the interceptor production was "badly needed."
Lockheed's initiative would come amid stepped-up efforts by Defense Secretary Robert Gates to get more bang for the Pentagon's buck. Gates is seeking to free more than $100 billion in overhead savings over five years to invest in forces in the field and modernizing their kit.
http://defense-technologynews.blogspot.com/2010/08/dtn-news-lockheed-offers-warranty-for.html
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