Raytheon books $106 million Paveway™ II contract
TUCSON, Ariz., May 30, 2013 /PRNewswire/ -- Raytheon Company (NYSE: RTN) booked a $106 million contract for its combat-proven Paveway™ II family of precision-guided munitions. The company was awarded the direct commercial sale from an international customer. The contract includes Paveway™ kits for both GBU-12 (500lb) and GBU-58 (250lb) guided bombs. Paveway™ is a Raytheon-designed kit that transforms "dumb" bombs into precision-guided munitions. The contract order was booked in Raytheon's second quarter of 2013.
"Customers worldwide continue to select Raytheon's Paveway™ to protect their warfighters and citizens," said Harry Schulte, vice president of Raytheon Missile Systems' Air Warfare Systems. "This contract further demonstrates Raytheon's long-standing commitment to its international partners."
Raytheon continues to evolve Paveway™ to meet the needs of the U.S. armed forces as well as allied nations. The Raytheon Paveway™ family offers precision guidance kits compatible across a broad spectrum of warheads. Enhanced versions of Paveway™ include Global Positioning System/Inertial Navigation System guidance capabilities. These combine the precision and flexibility of traditional laser-guided weapons with the all-weather capability of GPS guidance, resulting in a weapon that decreases the required sortie count and weapons inventory while simultaneously increasing the mission success rate.
The Paveway™ family of guided bombs has revolutionized tactical air-to-ground warfare by converting "dumb" bombs into precision-guided munitions. Bombs equipped with Paveway™ kits have been put to the test and proven themselves time and again. Paveway™ is the weapon of choice for 43 customers. Paveway™ guided bombs comprised more than half the air-to-ground precision-guided weapons used in Operation Iraqi Freedom, Enduring Freedom and Unified Protector.
Raytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 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. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.
Note to Editors
Paveway™ is a registered Community Trademark in the European community.
SOURCE Raytheon Company