Air Defense: July 18, 2001

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Lockheed has decided to build the Patriot PAC-3 missile in its factory at Camden, Arkansas. The first missile will be finished later this year. Cost of the missile is $4 million each, but this averages in the development cost and the company expects that once the Army orders its second batch of 1,000 missiles and some export customers show up, the price will drop to $2 million.--Stephen V Cole

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