Raytheon Selected to Provide Open-Road Tolling Systems in Texas
AUSTIN, Texas, Aug. 25, 2005 /PRNewswire-FirstCall/ -- The Texas Department of Transportation (TxDOT) and the Texas Transportation Commission today approved Raytheon Company (NYSE: RTN) as the prime contractor to develop, build and maintain open-road toll collection systems in Texas. Once implemented, Texas' open road tolling system will include the most advanced technology in the world and will facilitate convenient and safe travel for millions of drivers throughout the state.
Now that the selection process has been completed, Raytheon's Network Centric Systems and TxDOT will begin discussions aimed at executing a Comprehensive Development Agreement. This agreement will provide all the specific terms and conditions under which Raytheon would provide the open road toll collection systems for designated project segments over five years. Raytheon will also be responsible for maintaining these toll collection systems for a period up to eight years after each goes into operation.
Raytheon is the most experienced supplier of state-of-the-art open road, free-flow electronic tolling systems in the world. Its systems are in operation on three continents, including the world's first all-electronic, open road toll highway in Toronto, Canada. Raytheon's systems provide video tolling, transponder tolling and vehicle classification for all vehicles and allow all vehicles to use the toll road.
Raytheon's major subcontractors are Arcadis and Zachry. Arcadis is a leading, global, engineering service provider with $1 billion in annual revenue. The company has a strong presence in Texas and will provide civil engineering services for the project. Zachry is a privately-owned construction and industrial maintenance service company based in San Antonio, Texas. It has public- and private-sector projects for roadway infrastructure and system installations throughout the U.S.
Raytheon Network Centric Systems business, headquartered in McKinney, Texas, provides world-class highway management systems and technology along with air traffic management systems that control more than 60 percent of the world's skies. Raytheon businesses in Texas generate annual revenues in excess of $6 billion and employ over 8,000 people.
Raytheon Company, with 2004 sales of $20.2 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 80,000 people worldwide.
Contact Jeff Nelligan 703-284-4209
SOURCE: Texas Department of Transportation
Web site: http://www.raytheon.com/