This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Raytheon Awarded $422 Million Contract For Paveway™ II

Stocks in this article: RTN

TUCSON, Ariz., Nov. 28, 2012 /PRNewswire/ -- Raytheon Company (NYSE: RTN) was awarded a $422 million contract for its combat-proven Paveway™ II family of precision-guided munitions. The company was awarded the direct commercial sale from an international customer. Paveway™ is a Raytheon-designed kit that transforms "dumb" bombs into precision-guided munitions.

"Paveway™ has revolutionized tactical air-to-ground warfare by providing the warfighter unparalleled accuracy and standoff capability, proving itself in every major conflict in which it has been used," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president. "This contract further demonstrates Raytheon's long-standing commitment to its international customers."

Raytheon continues to evolve Paveway™ to meet the needs of the U.S. armed forces as well as allied nations. Newer versions of Paveway™ include Global Positioning System/Inertial Navigation System guidance capabilities, which combine the precision and flexibility of traditional laser-guided weapons with the all-weather capability of GPS guidance, resulting in a weapon that decreases the required sortie count and weapon inventory while simultaneously increasing the mission success rate.

About Paveway™ The Paveway™ family of laser-guided and GPS and laser-guided bombs has revolutionized tactical air-to-ground warfare by converting "dumb" bombs into precision-guided munitions. Bombs equipped with Paveway™ kits have been put to the test and proved themselves, time and again, as the weapon of choice by 43 customers. Paveway™ laser-guided bomb kits comprised more than half the air-to-ground precision-guided weapons used in Operation Iraqi Freedom, Enduring Freedom and Unified Protector.

About RaytheonRaytheon Company, with 2011 sales of $25 billion and 71,000 employees worldwide, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 90 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. Raytheon is headquartered in Waltham, Mass. For more about Raytheon, visit us at www.raytheon.com and follow us on Twitter @raytheon.

Note to EditorsPaveway™ is a registered Community Trade Mark in the European Community.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,615.27 +0.46 0.00%
S&P 500 1,947.07 +5.79 0.30%
NASDAQ 4,432.8710 +13.3930 0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs