April 15 (Reuters) - L3Harris Technologies and Virginia Governor Abigail Spanberger said on Wednesday the defense supplier will invest $1.27 billion to further the solid rocket motor production capacity at its Orange County site.
The announcement comes months after the U.S. government's commitment to invest $1 billion in L3Harris' rocket motor business to ensure a steady supply of much-needed motors for a wide range of missiles such as Tomahawks and Patriot interceptors.
The investment will be made
through a $1 billion convertible preferred stake in L3Harris' Missile Solutions unit, which is set to go public in the second half of 2026 and become a standalone missile propulsion company.
L3Harris, on Wednesday, said it plans to construct new facilities at the Orange County site to support solid rocket motor production operations spanning multiple Department of Defense programs.
Trump has ordered the department to rename itself the Department of War, a change that will require action by Congress.
The investment comes in the backdrop of rising demand for arms and military equipment driven by ongoing global conflicts, with militaries around the world aiming to replenish stockpiles, benefiting defense contractors.
L3Harris also operates solid rocket motor production facilities in Camden, Arkansas and Huntsville, Alabama.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Vijay Kishore)
