Raytheon Awarded $142 Million Standard Missile-2 Production Contract
TUCSON, Ariz., May 4, 2006 /PRNewswire-FirstCall/ -- Raytheon Company (NYSE: RTN) has been awarded a $142 million contract for domestic production of Standard Missile-2 (SM-2) for the U.S. Navy.
Raytheon will deliver 75 Block IIIB missiles, 80 Block IIIB conversion kits, telemeters, spare parts, rocket motors and missile maintenance support. Work on the contract will be performed at Raytheon's Missile Systems business in Tucson, Ariz., and Camden, Ark.
"This contract continues to demonstrate the Standard Missile program's commitment to provide the U.S. Navy with a safe, effective and affordable missile," said Raytheon Naval Weapon Systems Vice President Ed Miyashiro.
The SM-2 Block IIIB, which entered the fleet in 1998, incorporates a side-mounted infrared seeker to aid in endgame guidance. Standard Missile has been the U.S. Navy's primary surface-to-air fleet air defense weapon for more than three decades. It is the most technically advanced and the most capable air defense missile in the world. SM-2 is operational on guided missile cruisers, destroyers and frigates in the U.S. Navy and is in operation with 13 allied navies.
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/