Raytheon Receives $30 Million for SLAMRAAM Long-lead Production
TEWKSBURY, Mass., May 28, 2009 /PRNewswire/ -- Raytheon Company's (NYSE: RTN) Surface Launched Medium Range Air-to-Air Missile (SLAMRAAM) program has received U.S. Army approval for a long-lead acquisition, not to exceed $30 million, for long-lead purchases leading to low rate initial production.
This approval is significant as it represents and underscores the Army's confidence in the system and the capability it brings to the warfighter.
"SLAMRAAM represents a revolutionary step forward in the defense of our troops on the battlefield as well as our nation and allies," said Pete Franklin, vice president for Raytheon Integrated Defense Systems' National & Theater Security Programs. "SLAMRAAM will field the first command and control air defense system supporting the Army's vision of 'system of systems'."
SLAMRAAM is a tailorable, state-of-the-art air defense system that can defeat current and emerging cruise missile threats, unmanned aerial systems and a wide range of air breathing threats. It provides the warfighter with a system of highly mobile battlefield elements networked and geographically distributed to provide integrated fire control capability against airborne threats. SLAMRAAM, when combined with Raytheon's domain knowledge in integrated air and missile defense, provides the U.S. Army and allies the netted, flexible capabilities to defeat current and future threats.
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 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 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 73,000 people worldwide.
Contact: Maureen Heard 339.645.6664
SOURCE: Raytheon Company
Web site: http://www.raytheon.com/
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