[h=2]Congress asked to approve US$179M arms sale to S’pore[/h]
October 10th, 2013 |
Author: Online Press
The US is selling half a dozen TPQ-53 radar systems to Singapore.
(8 Oct) – America’s national checkbook may be frozen by the government shutdown, but luckily for our defense contractors, not all countries are in such dire straits. Case in point: The U.S. Defense Security Cooperation Agency notified Congress Tuesday of plans to sell the government of Singapore a half-dozen AN/TPQ-53 (V) Counterfire Target Acquisition Radar Systems from Lockheed Martin (NYSE: LMT ) .
The AN/TPQ-53 is a counter-battery radar system, which means it tracks the speeds and trajectories of incoming rockets, mortar rounds, and similar missiles to determine where the fire is coming from, enabling the user to know where to shoot back — hence “counterfire.”
Including the cost of necessary equipment, parts, training, and logistical support, the total value of this arms sale to defense contractor Lockheed is put at US$179 million.
“The Government of Singapore intends to use these radar systems to modernize its armed forces,” explained DSCA. And providing these radar systems to Singapore “will improve the security of a strategic partner which has been, and continues to be, an important force for political stability and economic progress in the Asia Pacific region,” helping with U.S. “counter-piracy and counterterrorism efforts [at a] critical chokepoint where much of the world’s goods and services transit en route to and from the Asia Pacific region.”
DSCA assured Congress that “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.”
More in: http://www.fool.com/investing/gener...ess-asked-to-approve-179-million-arms-sa.aspx
(8 Oct) – America’s national checkbook may be frozen by the government shutdown, but luckily for our defense contractors, not all countries are in such dire straits. Case in point: The U.S. Defense Security Cooperation Agency notified Congress Tuesday of plans to sell the government of Singapore a half-dozen AN/TPQ-53 (V) Counterfire Target Acquisition Radar Systems from Lockheed Martin (NYSE: LMT ) .
The AN/TPQ-53 is a counter-battery radar system, which means it tracks the speeds and trajectories of incoming rockets, mortar rounds, and similar missiles to determine where the fire is coming from, enabling the user to know where to shoot back — hence “counterfire.”
Including the cost of necessary equipment, parts, training, and logistical support, the total value of this arms sale to defense contractor Lockheed is put at US$179 million.
“The Government of Singapore intends to use these radar systems to modernize its armed forces,” explained DSCA. And providing these radar systems to Singapore “will improve the security of a strategic partner which has been, and continues to be, an important force for political stability and economic progress in the Asia Pacific region,” helping with U.S. “counter-piracy and counterterrorism efforts [at a] critical chokepoint where much of the world’s goods and services transit en route to and from the Asia Pacific region.”
DSCA assured Congress that “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.”
More in: http://www.fool.com/investing/gener...ess-asked-to-approve-179-million-arms-sa.aspx
