Javelin Joint Venture Awarded $214 Million Contract for Javelin Weapon System
TUCSON, Ariz., Oct. 6, 2009 /PRNewswire/ -- The Raytheon Company (NYSE: RTN) - Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $214 million U.S. Army contract for the production of the Javelin Close Combat Weapon System. The contract includes the Javelin missile, command launch units (CLUs), and training and field support.
Javelin is the world's first man-portable, fire-and-forget, medium-range missile system. The compact, lightweight missile is designed for one-soldier operations in all environments.
"The Javelin missile continues to provide the U.S. Army with a weapon that has been proved in irregular and conventional warfare," said Duane Gooden, program director of Raytheon's Javelin program and president of the Javelin Joint Venture.
The Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications.
"The Javelin CLU gives the warfighter critical surveillance and situational awareness," said Barry James, Lockheed Martin Javelin program director and Javelin Joint Venture vice president. "We are committed to partnering with our soldiers, sailors, Marines and coalition allies to provide a mission capability that will continue to meet their defining moments."
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.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
Contacts: Lockheed Martin Raytheon Heather Kelly Heather Uberuaga 407.356.5351 520.665.5594
SOURCE Raytheon Company
SOURCE: Raytheon Company
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