L3Harris Breaks Ground on Solid Rocket Motor 'Factories of the Future' in Arkansas

L3Harris Technologies (NYSE:LHX) marked the beginning of construction on four new solid rocket motor production facilities at the company's Camden site, hosting Department of Defense officials, industry customers and state and local dignitaries at a ceremony today.

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Ken Bedingfield (President, Aerojet Rocketdyne, L3Harris) was joined by state, local and federal officials today at a groundbreaking ceremony, celebrating the start of construction on four new solid rocket motor production facilities at the company's Camden, Arkansas, site. (Photo: Business Wire)

The expansion is part of a $215.6 million cooperative agreement between the Defense Department's Defense Production Act Title III program and L3Harris to increase domestic rocket propulsion manufacturing capacity as demand grows for tactical and strategic missile capabilities. The new facilities will incorporate modern equipment and processes.

"Expanding solid rocket motor production in Arkansas is a strategic investment in our nation's security at a time when defense and deterrence are increasingly critical on the global stage," said Ken Bedingfield, President, Aerojet Rocketdyne, L3Harris. "Our propulsion is a key enabler of the ‘Arsenal of Democracy 2.0,' and L3Harris is committed to ramping up production to support the defense of our nation, its allies and partners."

Construction in Camden will include a 60,000-square-foot, state-of-the-art facility that will centralize production of a key program under one roof, cutting the distance motors travel during manufacturing by 80%. The expansion will also include a dedicated mixer building, as well as complementary propellant processing buildings to support increased motor production.

"Aerospace is Arkansas' largest export industry and my administration is working hard to grow Camden's reputation as an aerospace powerhouse, not just in Arkansas but around the country and the world," said Arkansas Gov. Sarah Huckabee Sanders. "This announcement reinforces Camden's role in Arkansas' economy and America's national defense and I am grateful for L3Harris' continued commitment to the Natural State."

"Camden, Arkansas, is the proud home to production of critical weapon systems and munitions that support American warfighters and our allies," said Sen. John Boozman, R-Ark. "This successful partnership continues to generate economic opportunity in the region and elevate our state's formidable national security footprint. I am pleased to celebrate the latest L3Harris modernization and expansion project that will not only bolster our defense readiness but also underscores the wisdom of investing in The Natural State."

"I take great pride in the fact that the Fourth District of Arkansas is home to such an integral contributor to our national defense," said Rep. Bruce Westerman, R-Ark. "Our national security has never been more important, and this expansion in Camden will continue to solidify the Natural State's mark on defense manufacturing, support many hardworking Arkansans, and maintain our nation's position as a global leader in aerospace and defense. Congratulations to L3Harris for this exciting new expansion."

"This effort is an imperative step forward to tackle the Department's solid rocket motor needs," said Anthony Di Stasio, Acting Deputy Assistant Secretary of Defense for Industrial Base Resilience. "By expanding and modernizing its manufacturing capabilities, L3Harris will increase and speed up production to more rapidly address current demands and help replenish U.S. stockpiles in the future."

"L3Harris is building the future of its solid rocket production in Arkansas, and we are excited to see this growth take off," said Clint O'Neal, Executive Director of the Arkansas Economic Development Commission. "L3Harris is an industry leader in the aerospace sector, and our state welcomes their continued expansion. This is a milestone for L3Harris, the State of Arkansas, and the south Arkansas region, and we congratulate everyone on this major announcement."

Since signing the cooperative agreement with the Defense Department, L3Harris has finalized building designs, created plans for undeveloped property across multiple sites and purchased new equipment. New tooling and equipment have already contributed to increased motor production.

The company is also modernizing and expanding solid rocket motor facilities under the cooperative agreement in two additional states. L3Harris will build new facilities in Orange County, Virginia, to support increased production and will transition production of inert components for critical missile systems to Huntsville, Alabama.

About L3Harris Technologies

L3Harris Technologies is the Trusted Disruptor in the defense industry. With customers' mission-critical needs always in mind, our employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security. Visit L3Harris.com for more information.

Forward-Looking Statements

This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about future capacity are forward-looking and involve risks and uncertainties. L3Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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Jessica Carlton

Aerojet Rocketdyne

[email protected]

256-513-2220

Sara Banda

Corporate

[email protected]

321-306-8927