TUCSON, Ariz., Oct. 9 /PRNewswire-FirstCall/-- The U.S. Navy awarded
Raytheon Company (NYSE: RTN) a $36 million fixed price incentive contract for
the Low Rate Initial Production (LRIP) of the Tactical Tomahawk.
The contract calls for the production and delivery of 25 Tactical Tomahawk
All-Up Round missiles.
"This award is the direct result of the outstanding success of the first
flight demonstration on Aug. 23," said Louise Francesconi, president, Raytheon
Missile Systems, Tucson, Ariz. "I am proud of the progress that the joint
Raytheon-U.S. Navy team has made in taking us one step closer to Fleet
introduction."
Tomahawk, the surface- and submarine-launched, precision strike stand-off
weapon, is the Navy's weapon of choice for critical, long-range precision
strike missions against high value, heavily defended targets.
Tactical Tomahawk will incorporate innovative technologies to provide new
operational capabilities while dramatically reducing acquisition and life
cycle costs. Scheduled for fleet introduction in 2004, the Tactical Tomahawk
will cost less than half of a newly built Block III missile and will have the
capability to respond to changing battlefield conditions through the use of
its loiter and mission flex features.
With headquarters in Lexington, Mass, Raytheon is a global technology
leader in defense, government and commercial electronics, and business and
special mission aircraft.
Contact:
Jennifer Spears-Allen
(520) 794-4182
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
Jennifer Spears-Allen of Raytheon Company,
+1-520-794-4182
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