TROY — President Joe Biden on Tuesday credited the assembly line workers at a Javelin missile plant for doing lifesaving work in building the antitank weapons that are being sent to Ukraine to stifle Russia's invasion as he made a pitch for Congress…
AAMER MADHANI and BEN FOX Associated Press to Ukraine to stifle Russia's invasion as he made a pitch for Congress to approve $33 billion so the U.S. can continue to hustle aid to the front lines.
"Every worker in this facility and every American taxpayer is directly contributing to the case for freedom," Biden said. Analysts also estimate that the United States has sent about one-quarter of its stockpile of shoulder-fired Stinger missiles to Ukraine. Raytheon Technologies CEO Greg Hayes told investors last week during a quarterly call that his company, which makes the weapons system, wouldn't be able to ramp up production until next year, due to parts shortages.
The Russian invasion offers the U.S. and European defense industry a big opportunity to bolster profits as lawmakers from Washington to Warsaw are primed to increase defense spending in response to Russian aggression. Defense contractors, however, face the same supply chain and labor shortage challenges that other manufacturers are facing, along with some others that are specific to the industry.
Lockheed Martin's facility in Troy has the capacity to manufacture about 2,100 Javelins per year. Biden's trip overlapped with his push for an additional $33 billion in security and economic assistance for Kyiv. Senate Majority Leader Chuck Schumer, D-N.Y., said Monday he hoped quick bipartisan agreement on the security package could be reached so the Senate could begin considering it"as early as next week.
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