Raytheon Awarded $64 Million to Establish and Maintain Patriot Spares Inventory
TEWKSBURY, Mass., Oct. 6, 2009 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $64 million supply performance-based logistics contract to establish and maintain inventory levels in the field of select secondary Patriot parts.
This sole-source, firm-fixed-price contract from the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., is a follow-on contract to continue to provide spare parts to the warfighter. Under the previous contract, Raytheon increased parts availability by up to 40 percent, decreased response time for soldier requests and reduced the overall inventory of parts required. Under this follow-on contract, Raytheon intends to drive further improvement in all three categories.
"This contract affirms the program's success in helping the Army achieve its goal of mission readiness with efficiency and cost effectiveness," said Sanjay Kapoor, vice president for Patriot Programs at Raytheon Integrated Defense Systems (IDS). "Raytheon understands the challenges of maintaining complex weapon systems in the field and is committed to the long-term sustainment of Patriot and other systems that play such an important role in protecting the U.S. and our allies."
Work under this contract will be performed by Raytheon IDS at the Integrated Air Defense Center in Andover, Mass. with support from Raytheon Technical Services Company in El Paso, Texas, and Norfolk, Va.
Raytheon IDS is the prime contractor for both domestic and international Patriot air and missile defense systems and systems integrator for Patriot advanced capability-3 missiles.
Integrated Defense Systems is Raytheon's leader in Global Capabilities 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 2008 sales of $23.2 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 87 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.
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SOURCE Raytheon Company
SOURCE: Raytheon Company
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