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Raytheon Wins $217 Million Navy Contract

The Associated Press

TEWKSBURY, Mass. (AP) — Defense contractor Raytheon Co. said Monday it was awarded a $217 million contract by the U.S. Navy for radar technology.

Raytheon will provide long-lead materials for the Volume Search Radar arrays for the Zumwalt-class destroyer program as well as make the radar system for the USS Gerald R. Ford.

The work will be done at a Raytheon plant in Sudbury, Mass., and at Lockheed Martin in Moorestown, N.J. The company is based in Waltham, Mass.

Raytheon shares fell 81 cents to $45.41 in late morning trading.