UK Awards Javelin Joint Venture $176 Million for Javelin Missile Rounds
TUCSON, Ariz., Dec. 17, 2009 /PRNewswire/ -- The Raytheon Company (NYSE: RTN) - Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $176 million contract from the United Kingdom's Ministry of Defense for more than 1,300 Javelin missile rounds and associated engineering support.
"The current battlefield requires precision at all levels of the fight, and Javelin meets the need for precision at both the platoon and squad levels," said Duane Gooden, program director of Raytheon's Javelin program and president of the Javelin Joint Venture. "Javelin is the weapon of choice for infantry, special operations and rapid reaction forces due to its unmatched lethality, versatility and gunner survivability."
Javelin is the world's first man-portable, fire-and-forget, multipurpose missile system. The compact, lightweight missile is designed for one-soldier operations in all environments. The joint venture will begin delivering missiles to the U.K. in 2010 and continue through 2012.
The Javelin enhances direct-fire capability against armored vehicles, buildings and field fortifications. Using the Javelin missile system, a single infantryman can engage and defeat targets at ranges up to two and a half kilometers (1.6 miles). Javelin is currently in service with the U.S. Army, U.S. Marine Corps and 11 allied customers.
"Because the Javelin automatically guides itself to the target after launch, the missile system allows the gunner to either take cover to avoid counterfire or engage another threat," said Barry James, program director of Lockheed Martin Javelin program and vice president of the Javelin Joint Venture.
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 140,000 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 Jaclyn Gutmann 407.356.5351 520.545.8428 Heather.Kelly@lmco.com Jaclyn_E_Gutmann@raytheon.com
SOURCE: Raytheon Company
Web site: http://www.raytheon.com/
Company News On-Call: http://www.prnewswire.com/comp/149999.html
Company News On-Call: http://www.prnewswire.com/comp/742575 .html