TUCSON, Ariz., Sept. 10, 2013 /PRNewswire/ -- The U.S. Army awarded Raytheon Company (NYSE: RTN) a $54 million contract for the procurement of the second lot of the Excalibur Ib artillery round.
The Excalibur Ib is a precision-guided artillery projectile based on Raytheon's combat-proven Excalibur Ia-1 and Ia-2, a 155mm precision-guided, extended-range projectile that uses GPS precision guidance to provide accurate, first round, fire-for-effect capability in any environment.
"No other artillery round comes close to doing what Excalibur does for the warfighter," said Kevin Matthies, Raytheon Missile Systems' Excalibur program director. "The Excalibur Ib will not only provide industry-leading precision for the warfighter, it will also improve reliability and lower the unit cost."
About ExcaliburWith more than 690 rounds fired in theater to date, Excalibur is the revolutionary precision projectile for the U.S. Army and Marines. By using Excalibur's level of precision, there is a major reduction in the time, cost and logistical burden traditionally associated with using artillery munitions. Analyses have shown that on average it takes 10 to 50 conventional munitions to accomplish what one Excalibur can.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 Contact Nicole Stewart +1.520.437.1975 email@example.com SOURCE Raytheon Company
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts