Raytheon Delivers 100th Standard Missile-3 Block IA to MDA

(Tucson, Ariz., May 4, 2010) -- In a significant production milestone, Raytheon Company (NYSE: RTN) delivered the 100th Standard Missile-3 Block IA to the Missile Defense Agency.

"SM-3 Block IA is a proven, mature system that is protecting the U.S. and its allies today, and Raytheon continues to deliver this national asset ahead of schedule and below cost," said Frank Wyatt, vice president of Raytheon's Air and Missile Defense Systems product line. "This milestone is further proof of Raytheon's commitment to delivering high-quality, affordable missile defense solutions to the MDA and warfighters around the world."

The SM-3 Block IA was initially fielded in 2006. It is the third variant of SM-3, with prior versions supporting early testing and providing initial deployed capability. In 2008, Raytheon modified an SM-3 Block IA to destroy a failed satellite in space.

"Raytheon's ability to successfully combine low-cost, high-rate missile manufacturing with spacecraft precision and quality control enables the company to provide this proven capability to the warfighter," said Wyatt. "Raytheon also has the ability to build four missiles per month and plans to support customer direction and funding for higher-rate production."

Source : Raytheon Corporation (NYSE: RTN)