Benzinga | Aug 25, 2021 06:54AM EDT

L3Harris Expands Satellite Production Site

* L3Harris Technologies Inc (NYSE:LHX) expands its satellite production site to include advanced production of unclassified satellites, which will deliver experimental capabilities for national defense.

* The company's Central Florida location is home to more than 100,000 square feet of space used to develop, manufacture, and test full satellites and components.

* The increased production capability allows L3Harris to develop and test the experimental Navigation Technology Satellite-3 (NTS-3), a priority program for the U.S. Air Force.

* Two of L3Harris' eight buildings have recently been upgraded to manufacture multiple end-to-end satellites per month.

* L3Harris has built eight satellites at the expanded Palm Bay facility currently on orbit, with ten more in various stages of development.

* The company plans to add more production capacity by the end of the year to produce six satellites per month.

* Price Action: LHX shares closed lower by 0.02% at $232.44 on Tuesday.