The U.S. government will invest $1 billion in L3Harris Technologies’ rocket motor business, a rare direct-to-supplier partnership that the Pentagon said is designed to expand production of solid rocket motors used in major weapons systems as President Donald Trump presses for a major boost in defense spending and sharper oversight of the defense industry.
The Department of War said on Jan. 13 that it signed a letter of intent with L3Harris outlining the terms of a $1 billion convertible preferred equity investment in the company’s Missile Solutions business, which will be carved out into a separate company under the transaction.
