Raytheon Finalizes $184 Million Radar Equipment Contract
TEWKSBURY, Mass., April 24, 2007 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has finalized a $184 million U.S. Navy contract for radar equipment for the Royal Australian Navy's Air Warfare Destroyer (AWD) and the Spanish Navy's F-105 Frigate.
Under the Foreign Military Sales contract, Raytheon IDS will manufacture, integrate and test AN/SPY-1 D(V) system transmitters and MK99 Fire Control Systems for the AWD and F-105 programs. The so-called "definitized" contract reflects the fully negotiated firm fixed price and includes an increase in funding over the original $72 million contract awarded June 2006.
"Raytheon has a long, proud history of providing reliable, combat-proven surveillance, tracking and fire control capabilities," said Dan Martin, vice president of Maritime Mission Systems at Raytheon Integrated Defense Systems (IDS). "These mission critical capabilities allow warfighters to detect and defend against current and future air and surface threats."
IDS' AN/SPY-1 radar transmitters and MK99 Fire Control Systems have been in continuous production for 28 years as part of the U.S. Navy's Aegis shipbuilding program. SPY-1 and the MK99 are currently onboard the U.S. Navy's fleet of cruisers and destroyers, Japanese Kongo-class destroyers, and Spanish F-100-class frigates.
Work will be performed at IDS' Surveillance and Sensors Center in Sudbury, Mass., the Integrated Air Defense Center in Andover, Mass., and the Maritime Mission Center in Portsmouth, R.I.
Integrated Defense Systems is Raytheon's leader in Joint Battlespace Integration providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.
Raytheon Company, with 2006 sales of $20.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning more than 80 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.
Contact: Carolyn Beaudry 401.842.3550
SOURCE: Raytheon Company
CONTACT: Carolyn Beaudry for Raytheon Company, +1-401-842-3550
Web site: http://www.raytheon.com/