TUCSON, Ariz., Nov. 7, 2014 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a not to exceed $85.5 million Indefinite Delivery Indefinite Quantity (IDIQ) contract for Griffin missiles and support. The first increment of the contract was funded at $32.5 million and orders are expected for missiles and engineering services over the life of the contract.
Raytheon will deliver Griffin A and B Block II/III missiles as well as test and support equipment under firm-fixed-price contract line item number along with engineering support under a cost-plus-fixed-fee contract line item number.
Work will be performed in Tucson, Arizona, and is expected to be completed by Oct. 30, 2017. This award is the result of a sole-source acquisition.
The Griffin missile is a multi-platform, multi-service weapon that has a proven track record for successful rapid integration on land, sea and air assets. The combat-proven Griffin AGM-176A is an aft-eject missile designed for employment from platforms such as the C-130 aircraft. The Griffin BGM-176B is a forward-firing missile that launches from rotary- and fixed-wing aircraft, ground-launch applications and maritime platforms. The Griffin missile is 43 inches long, weighs 33 pounds, has a 13-pound warhead, and is in production today. Griffin enables the warfighter to engage targets via a simple user interface and guide the weapon to the target using GPS coordinates exclusively or with laser designation. To maximize lethality, the user can choose to engage the target with direct attack or high impact angle and has the option of using height of burst, point detonation or delayed fuzing.
Raytheon Company, with 2013 sales of $24 billion and 63,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 92 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 cyber security and a broad range of mission support services. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @Raytheon.
SOURCE Raytheon Company