Raytheon Awarded U.S. Navy Systems Contracts With Combined Potential Value of Nearly $72 Million
WALTHAM, Mass., Dec. 29, 2011 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received two separate contract awards from the Naval Sea Systems Command (NAVSEA) of the United States Navy for work on: the Phalanx, SeaRAM and Land-based Phalanx weapons systems; and on NATO SEASPARROW surface missile systems.
The combined value of the two contracts, which were announced on Dec. 27 by the Department of Defense, could near $72 million should NAVSEA exercise all options on the SEASPARROW contract.
Raytheon Company, Tucson, Ariz., is being awarded a $45,588,204 cost-plus-fixed-fee contract for design agent engineering and technical support services for Phalanx, SeaRAM and Land-based Phalanx Weapon Systems. The Phalanx Close-In Weapon System is a fast-reaction terminal defense against low- and high-flying, high-speed maneuvering anti-ship missile threats that have penetrated all other defenses.
Raytheon Company, Portsmouth, R.I., is being awarded a $21,066,612 not-to-exceed letter contract for NATO SEASPARROW surface missile systems MK57 MOD 12/13, guided missile launching system MK29 MOD 5, and assorted spares. This contract includes options which, if exercised, would bring the cumulative value to $26,350,589.
Raytheon Company, with 2010 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 89 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. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter at @raytheon.
Integrated Defense Systems
SOURCE Raytheon Company