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Raytheon Begins Full Rate Production of MK 54 Torpedoes
TEWKSBURY, Mass., Oct. 26, 2004 /PRNewswire/ -- Raytheon Company has begun full rate production of the MK54 torpedo, the U.S. Navy's next generation lightweight torpedo. This significant milestone follows a series of successful technical and operational evaluations and the U.S. Navy's authorization of initial operational capability for introduction to the fleet. Co-developed by Raytheon Integrated Defense Systems and the U.S. Navy, the MK54 is the next generation anti-submarine warfare weapon deployed from surface ships, helicopters and fixed wing aircraft to track, classify, and attack underwater targets. Sophisticated processing algorithms allow the MK54 to analyze the information, edit out false targets or countermeasures, and pursue identified threats. The MK54 is designed for both deep water and littoral environments, making it the only lightweight torpedo capable of striking any target in the world's oceans, regardless of water depth. "The MK54 is the most thoroughly tested torpedo in the world. During the recently concluded operational testing, the MK 54 met or exceeded all design specifications and significantly surpassed baseline performance requirements," said Rear Admiral John D. Butler, U.S. Navy, program executive officer -- Submarines. "With the MK 54 lightweight torpedo now reaching the fleet, threat submarines truly have no place to hide." Raytheon is the U.S. Navy's provider of light and heavyweight torpedoes. The Navy chose Raytheon as the prime production supplier based on the company's proven performance on existing torpedo contracts and demonstrated ability to work synergistically with the Navy torpedo enterprise to produce these hardware assets most efficiently and cost effectively. Under the consolidated procurement contract for fiscal year 2004, Raytheon will deliver 51 MK54 lightweight torpedoes and associated whole-life support services. The five-year contract value, including exercised options, is expected to exceed $500 million. Work will be performed at Raytheon's Torpedo and Readiness Center, co- located on the U.S. Navy base in Keyport, Wash., and at the Naval Integration Center in Portsmouth, R.I. Based in Tewksbury, Mass., Integrated Defense Systems (IDS) is Raytheon's leader in mission systems integration. With a strong international and domestic customer base, including the U.S. armed forces and U.S. Missile Defense Agency, IDS provides integrated capability solutions to the air, surface, and subsurface battlespace. Raytheon Company (NYSE: RTN), with 2003 sales of $18.1 billion, is an industry leader in defense and government electronics, space, information technology, technical services, and business and special mission aircraft. With headquarters in Waltham, Mass., Raytheon employs 78,000 people worldwide. Contact: Guy Shields Raytheon Company 978.858.5246 SOURCE: Raytheon Company Web site: http://www.raytheon.com/