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Raytheon Awarded $165 Million for Light- and Heavyweight Torpedoes

TEWKSBURY, Mass., Oct. 15, 2008 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $165 million U.S. Navy contract to provide MK54 lightweight and MK48 heavyweight torpedo hardware, engineering and support services.

Raytheon Integrated Defense Systems (IDS) will produce and deliver 228 MK48 Common Broadband Advanced Sonar System (CBASS) torpedo guidance and control upgrade kits and 192 MK54 lightweight torpedo kits. Nineteen MK48 CBASS upgrade kits are to be produced for the Royal Australian Navy, and 100 MK54 torpedo kits will be delivered to the Turkish Navy via a foreign military sales agreement.

In addition, Raytheon IDS will provide associated services to support the Navy's operational requirements for torpedo programs.

"This contract extends Raytheon's established partnership with the U.S. Navy in the development of the world's most capable undersea warfare weapons," said IDS' Charles "Tom" Bush, vice president, Seapower Capability Systems. "We remain committed to building, testing and delivering affordable, high- performance reliable weapons systems that our customers can rely on, without a doubt."

Raytheon IDS is the U.S. Navy's sole production supplier for light- and heavyweight torpedoes, working directly with the U.S. Navy to meet the torpedo requirements of U.S. and allied fleets. Together, the U.S. Navy and Raytheon have formed a total enterprise partnership, Team Torpedo, dedicated to the design and production of the world's most capable torpedoes.

Raytheon's Team Torpedo combines manufacturing, design engineering, and support services expertise with the systems engineering and testing capabilities of Naval Undersea Warfare Center (NUWC) operations in Newport, R.I., and Keyport, Wash.

Both the MK54 and MK48 have undergone rigorous operational testing, including a recent successful torpedo sink exercise involving a MK48 CBASS torpedo fired from the Royal Australian Navy's Collins-class submarine, HMAS Waller.

Work on the contracts will be performed at Raytheon's Torpedo and Readiness Center, co-located with the U.S. Navy at NUWC Division Keyport, Wash., and at the Seapower Capability Center, Portsmouth, R.I.

Integrated Defense Systems is Raytheon's leader in Global Capabilities Integration, providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.

Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.

Note to Editors:

This contract award was originally announced by the Department of Defense Oct. 9, 2008

  Contact:
  Carolyn Beaudry
  401.842.3550

SOURCE: Raytheon Company

CONTACT: Carolyn Beaudry of Raytheon Company, +1-401-842-3550

Web site: http://www.raytheon.com/

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