Raytheon Awarded Rolling Airframe Missile Production Contract for Republic of Korea
TUCSON, Ariz., April 10, 2006 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $17.4 million contract for production of the Rolling Airframe Missile (RAM) for the Republic of Korea (ROK).
The U.S. Navy contract calls for production of 30 RAM Block 1/HAS (helicopter, aircraft, surface) tactical guided missile round packs and test equipment design maintenance for the South Korean RAM program.
"This sale strengthens the ROK Navy's commitment to RAM Block 1/HAS as its ship self-defense weapon of choice for the KDX II class ships," said Todd Callahan, RAM program director. "We look forward to continuing our successful relationship with the ROK Navy as Raytheon has additional contracts to supply launchers for the KDX III and LPX programs."
This Foreign Military Sales contract from the U.S. Navy is a modification of an existing RAM missile production contract with the ROK. Fifty percent of the work will be done by Raytheon and 50 percent by RAM-System GmbH of Ottobrunn, Germany.
RAM is a multi-spectrum, supersonic, lightweight, quick-reaction, fire- and-forget missile system ideally suited to counter the modern anti-ship missile threat. It has been designed for use in a layered ship defense system. RAM Guided Missile Weapon Systems are aboard more than 60 ships in the navies of the United States, Germany, Greece and Korea.
The RAM MK 31 Guided Missile Weapon System is co-developed and co-produced under a NATO Cooperative Program Agreement between the United States and German governments.
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.
Contact: John Patterson 520.794.4559
SOURCE: Raytheon Company
CONTACT: John Patterson of Raytheon Company, +1-520-794-4559
Web site: http://www.raytheon.com/