Qatar to Spend $406 Million on Rocket Launchers
On Monday, the U.S. Defense Security Cooperation Agency announced that it has notified Congress of a possible Foreign Military Sale to the government of Qatar. If approved by Congress, prime contractor Lockheed Martin (NYS: LMT) will coordinate the sale to Qatar of a series of rocket and missile systems from multiple manufacturers, along with "associated equipment, parts, training, and logistical support."
Among other equipment, Qatar has asked to buy four Humvees manufactured by AM General, seven M142 High Mobility Artillery Rocket Systems manufactured by BAE Systems, and 600 rockets of various sorts and ranges, mostly manufactured by Lockheed itself. The estimated cost of all this and related equipment, along with logistical, repair, and other services, is $406 million.
The article Qatar to Spend $406 Million on Rocket Launchers originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.