|Raytheon Awarded $11.2 Million Standard Missile-1 Full Service Support Contract|
TUCSON, Ariz., June 6, 2005, 2005 /PRNewswire via COMTEX/ -- Raytheon Company (NYSE: RTN) has been awarded an $11.2 million Standard Missile-1 (SM-1) full service support contract by the U.S. Navy.
The contract provides for logistics support, depot repair, missile recertification and engineering and technical support for international users of the ship self defense system as well as regraining the missiles' Mk56 dual thrust rocket motors. Raytheon will use residual U.S. Navy assets to provide for sufficient components to support the repair of the international SM-1 inventory.
The contract will support missiles for the governments of Bahrain, Chile, Egypt, France, Italy, Japan, The Netherlands, Poland, Portugal, Spain, Taiwan and Turkey under the Foreign Military Sales program.
"With this contract, Raytheon has committed to the U.S. Navy and our international users that we are here to support our products. Our approach has brought together many innovative processes from other Raytheon programs and applied them to create a support program that will benefit the users, the Navy and Raytheon," said Ed Miyashiro, vice president of Raytheon's Naval Weapon Systems.
Through product and mission support, Raytheon ensures its customers have the products, systems and capabilities at the right place and at the right time, every time.
SM-1 support work will be done in Tucson, Ariz., Camden, Ark., and Sacramento, Calif., and will be completed by September 2006.
SM-1 is deployed on 66 platforms and provides an effective air defense capability for international frigates and destroyers.
Raytheon Company (NYSE: RTN), 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.
Note to editors: This contract award was originally announced by the Department of Defense May 13, 2005.
Contact: Sara Hammond 520.794.7810 SOURCE Raytheon Company
Sara Hammond of Raytheon Company, +1-520-794-7810