TUCSON, Ariz., Dec. 20, 2013 /PRNewswire/ -- The U.S. Army has awarded Raytheon Company (NYSE: RTN) a $15 million contract modification for the procurement of 216 Excalibur Ib rounds.

Excalibur is a 155mm precision-guided, extended-range projectile that uses GPS guidance to provide accurate, first-round effects capability in any environment. By using Excalibur's level of precision, there is a major reduction in the time, cost and logistical burden associated with using other artillery munitions. Analyses have shown it can take 10 to 50 conventional munitions to accomplish what one Excalibur can. 

Raytheon is also funding a program to augment its combat-proven 155mm GPS-guided projectile with a laser spot tracker seeker, giving the weapon a dual-mode capability. The company is planning a live-fire demonstration of the "Excalibur-S" early next year.

Excalibur is a cooperative program between Raytheon and BAE Systems Bofors AB.

About Raytheon
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.

Media Contact
John Patterson
+1.520.794.4559

rmspr@raytheon.com

SOURCE Raytheon Company