Raytheon Awarded U.S. Army Contract with Potential Value of $122 Million for TOW Weapon System Support
TUCSON, Ariz., Feb. 27, 2006 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has received a contract with five one-year options that has a total potential value of $122 million to provide engineering services for the TOW (Tube- launched, Optically tracked, Wire-Guided) weapon system family of missiles and TOW fire control systems including: ITAS (Improved Target Acquisition System), IBAS (Improved Bradley Acquisition Subsystem), T2SS (TOW 2 Subsystem), and M220 Ground TOW.
"The TOW system has provided the Army with a clear advantage on the battlefield during numerous engagements against all armor vehicles, fortifications and reinforced bunkers throughout Operations Iraqi Freedom and Enduring Freedom," said Jim Riley, vice president of Raytheon Missile Systems' Land Combat product line. "This contract enables Raytheon to deliver the continued support that the Army needs to effectively deploy these systems and achieve mission success."
TOW remains the Army and Marine Corps' primary heavy anti-tank/precision assault weapon deployed on more than 4,000 TOW launch platforms including the Army "Stryker," Bradley Fighting Vehicle System and HMMWV (High Mobility Multipurpose Wheeled Vehicle).
Raytheon Company, with 2005 sales of $21.9 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.
Note to editors: The contract was awarded Nov. 8, 2005, by the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala.
Contact: Everett Tackett, APR 520.545.8966
First Call Analyst:
SOURCE: Raytheon Company
CONTACT: Everett Tackett, APR, of Raytheon Company, +1-520-545-8966
Web site: http://www.raytheon.com/