MEADS International Incorporated said Wednesday it had signed a contract worth some 3.4 billion dollars (2.78 billion euros) for the Medium Extended Air Defense System (MEADS) for the US, Germany and Italy.
MEADS International is a joint venture between the European Aeronautic Defence and Space Company, US group Lockheed Martin, MBDA-Italia in Italy and Lenkflugkorpersysteme (LFK) in Germany.
MEADS is a mobile air and missile defense system designed to replace Patriot systems in the United States and Germany, and Nike Hercules systems in Italy.
The system includes a lightweight launcher, 360-degree fire control and surveillance radars and plug-and-fight battle management command and control capabilities not found in current systems.
The US government is funding about 58 percent of the MEADS programme, and Germany and Italy provide about 25 percent and 17 percent, respectively.
In February, the German finance ministry cast some doubt on the project by questioning German involvement and estimating that the cost could rise above 5.2 billion euros.
