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Raytheon Awarded $55 Million Contract to Deliver TOW Missiles to Saudi Arabia

FARNBOROUGH, England, July 18, 2010 /PRNewswire/ -- Raytheon Company (NYSE: RTN) received a $55 million contract to deliver TOW (Tube-Launched, Optically-Tracked, Wireless-Guided) 2A Radio Frequency missiles to the U.S. government as part of a foreign military sale to Saudi Arabia's National Guard.

"TOW RF missiles are tremendous weapons because of their high mobility, rapid response and close-fire support capabilities," said Jim Riley, Raytheon's vice president of Land Combat. "This missile can give soldiers at the lowest tactical echelon immediate, precision firepower."

TOW RF missiles include an RF transmitter added to the missile case and an RF receiver located inside the missile. Since no launcher modifications were required for the transition to wireless, this growth in capability is transparent to TOW customers.

"On today's battlefield, potential targets are hiding in caves, behind boulders or in the mountains," said Shawn Ball, Raytheon's TOW international business development manager. "TOW RF missiles are more than capable of taking out these kinds of targets. The RF link enhances operations in urban environments by providing greater reliability and precision performance."

TOW missiles are the most used precision heavy assault weapons in war today. Available on more than 10,000 airborne and ground platforms, the missiles are used by 40 countries in combat operations around the world.

Raytheon Company, with 2009 sales of $25 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 88 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 75,000 people worldwide.

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Jaclyn Gutmann

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SOURCE Raytheon Company

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