ORLANDO, Fla. (AP) - Defense contractor Lockheed Martin Corp. said Monday it
was recertified to continue producing a type of aircraft-fired cruise missile
that had been criticized for performance problems and cost overruns.
The U.S. government approval allows production of the Joint Air-To-Surface
Standoff Missile, or JASSM, to continue at Lockheed's manufacturing plant in
Troy, Ala., the company said.
Bethesda, Md.-based Lockheed said the recertification also will enable it to
continue developing a longer-range version of the missile.
The future of the JASSM had been in doubt after the Defense Department
threatened to end development last summer. Cost overruns prompted a review of
the development program, and subsequent tests revealed performance problems with
the weapon.
Lockheed shares rose 45 cents to $107.38 in early afternoon trading.
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