|Raytheon Receives $60 Million in Contracts for Standard Missile-1 Support Services|
TUCSON, Ariz., Jan. 10, 2007 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded two contracts to perform support services for the Standard Missile-1 (SM-1) program for international customers.
The most recent contract, valued at $29 million, was awarded Jan. 3. Work includes missile assembly, testing and delivery for the governments of Spain and Egypt.
An earlier contract, valued at $31.8 million, was awarded Nov. 13, 2006. Work includes regraining of MK-56 dual-thrust rocket motors and SM-1 Block VIA missile assembly, testing and delivery. The countries serviced under this contract are France, Japan, Turkey, Bahrain, Poland, Italy and Chile.
SM-1 support work will be performed in Tucson, Ariz., Camden, Ark., and Sacramento, Calif.
"These contracts demonstrate Raytheon's continued commitment to provide its customers with lifetime mission support," said Frank Wyatt, Raytheon's Naval Weapon Systems vice president.
SM-1 is a medium-to-long range fleet-defense missile. The SM-1 missile is operational in the ships of multiple coalition navies, and Raytheon has been selected by the U.S. Navy to provide SM-1 support.
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.