US Army Selects Raytheon for Next-Gen Excalibur Ib Program

(Tucson, Ariz., August 30, 2010) -- Raytheon Company (NYSE: RTN) has won the competition for the next phase of Excalibur Ib and has been awarded a $23 million U.S. Army contract to finalize the next-generation 155 mm precision-guided projectile's design. Delivery of the Excalibur Ib rounds is projected to occur in 2012.

Based on the combat-proven Excalibur Ia, Excalibur Ib uses GPS technology to provide a first round, fire-for-effect, precision capability that limits collateral damage. Whether "danger close" or across a valley, Excalibur projectiles give warfighters life-saving options.

"Raytheon's Excalibur Ib design will give our warfighters a pinpoint precision capability that will limit collateral damage while protecting the brigade combat teams," said Dr. Taylor Lawrence, Raytheon Missile Systems president. "Excalibur Ib is an affordable, reliable solution to the U.S. Army's need for precision artillery fire."

The Excalibur Ib program met the U.S. Army's cost reduction goals and increased its reliability by using fewer parts and simpler manufacturing.

"With more than 100 successful test flights during its development, Raytheon's Excalibur Ib team demonstrated the unwavering reliability and robust capability of its design," said Jim Riley, Raytheon's vice president of Land Combat.

Source : Raytheon Corporation (NYSE: RTN)