|Javelin Joint Venture Awarded $115 Million Contract for United Arab Emirates and Oman|
TUCSON, Ariz., July 29, 2008 /PRNewswire/ -- The Raytheon Company (NYSE: RTN)-Lockheed Martin (NYSE: LMT) Javelin Joint Venture received a $115 million U.S. government contract to produce the Javelin anti-tank missile and command launch unit for the United Arab Emirates and Oman.
Javelin is the world's first man-portable and employable fire-and-forget medium-range missile system. The compact, lightweight missile is ideally suited for one-soldier operations in all environments. The joint venture expects to deliver Javelin to the UAE and Oman in the next 18 months.
"The Javelin is a combat-proven weapon system effective against all known armor," said Duane Gooden, Raytheon Missile Systems' Javelin program director and president of the Javelin Joint Venture. "It also serves as an all-weather, day and night surveillance device."
The Javelin enhances direct fire capability against armored vehicles, buildings and field fortifications. Its anti-armor defense capabilities are critical to mission success in the open desert. Javelin is currently in service with the U.S. Army, U.S. Marine Corps and 10 allied customers.
"Because the Javelin automatically guides itself to the target after launch, the missile system allows the gunner to either take cover and avoid counterfire or engage another threat," said Hady Mourad, Lockheed Martin's vice president of the Javelin Joint Venture.
Raytheon Company, with 2007 sales of $21.3 billion, is a technology leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 86 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 a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 72,000 people worldwide.
Headquartered in Bethesda, Md., Lockheed Martin employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation reported 2007 sales of $41.9 billion.