DALLAS, May 13, 2015 /PRNewswire/ -- Lockheed Martin (NYSE: LMT) received a $174 million Foreign Military Sales (FMS) contract for Army Tactical Missile System (ATACMS) production for the U.S. Army and the United Arab Emirates. ATACMS is the U.S. Army's only tactical long-range precision-strike surface-to-surface weapon system.

"ATACMS has unsurpassed surface-to-surface capability," said Ken Musculus, vice president of Tactical Missiles for Lockheed Martin Missiles and Fire Control. "It is extremely reliable and proven in combat, which is why it continues to be our customers' choice for long-range strike requirements."

More than 570 ATACMS missiles have been fired in combat and the system has demonstrated extremely high rates of accuracy and reliability while in theater. Each ATACMS missile is packaged in a Guided Missile Launch Assembly pod and is fired from the MLRS family of launchers. ATACMS is currently in the inventory of multiple nations, including the Republic of Korea, Greece, Bahrain, Turkey and the United Arab Emirates.

All production on this contract will be conducted at Lockheed Martin's award-winning facility in Camden, Arkansas. Lockheed Martin has produced more than 3,700 ATACMS missiles, with more than 20 years of on-time deliveries. The company's Camden Operations has received more than 60 awards over the last decade, including the 2012 Malcolm Baldrige National Quality Award and the Shingo Silver Medallion Award for Operation Excellence, as well as being named one of America's "Top 10 Plants" by Industry Week magazine.

For additional information, visit our website: http://www.lockheedmartin.com/us/products/ATACMSBlockIAUnitary.html

About Lockheed Martin:

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 112,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2014 were $45.6 billion.

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SOURCE Lockheed Martin