Congress Asked to Approve $96 Million Artillery Sale to Singapore
For the second time this month, the U.S. Defense Security Cooperation Agency has notified Congress of planned weapons sales to the Government of Singapore today. Earlier in October, DSCA sought Congressional approval of the sale of six AN/TPQ-53 (V) Counterfire Target Acquisition Radar Systems from Lockheed Martin for $179 million. Today, the anticipated sale is a bit smaller in scale, but for a more offensive sort of weaponry.
Specifically, DSCA says the government of Singapore wishes to buy eight Unitary High Explosive Guided Multiple Launch Rocket System Pods, equipped with Tri-Mode Fuses, plus necessary containers, spare parts, support equipment, tools and test equipment, and related materials and services. If this defense contract is approved, it should be worth $96 million to the primary contractor -- which is once again Lockheed Martin.
As DSCA advises in its notification, the new weapons will equip Singapore's army with an ability "to defeat long-range artillery, air defense platforms, and light-armored vehicles in a precise, low-collateral damage strike," thus enhancing Singapore's "ability ... to contribute to regional security."
DSCA assured Congress that the "sale of this equipment and support will not alter the basic military balance in the region." Nor will it have any "adverse impact on U.S. defense readiness."
The article Congress Asked to Approve $96 Million Artillery Sale to Singapore originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Lockheed Martin. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.
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