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Raytheon Receives $126 Million SM-3 Contract

TUCSON, Ariz., June 27, 2013 /PRNewswire/ -- Raytheon Company (NYSE: RTN) was awarded a sole-source, cost-plus-incentive-fee contract valued at $126,000,000. The SM-3 missile is designed to destroy incoming short-, medium-, and intermediate-range ballistic missile threats by colliding with them in space, a concept sometimes described as "hitting a bullet with a bullet."

This contract modification is to procure the material required to manufacture up to 29 SM-3 Block IB missiles. Work will be performed in Tucson, Ariz., with an estimated completion date of Sept. 30, 2016. 

About the Standard Missile-3The SM-3 does not contain an explosive warhead, but instead destroys the threats using sheer impact, equivalent to a 10-ton truck traveling at 600 mph.

  • More than 150 SM-3s have been delivered to U.S. and Japanese navies.
  • Raytheon is on track to deploy the next-generation SM-3 Block IB guided missile in 2015.
  • SM-3 Block IB will be deployed in both afloat and ashore weapons systems.

About RaytheonRaytheon Company, with 2012 sales of $24 billion and 68,000 employees worldwide, is a technology and innovation leader specializing in defense, security and civil markets throughout the world. With a history of innovation spanning 91 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.

Media Contacts Heather Uberuaga+1.520.891.8421

rmspr@raytheon.com

SOURCE Raytheon Company

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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