The U.S. Navy awarded Raytheon Company (NYSE: RTN) a $313.8 million contract for low-rate initial production of Standard Missile-6 all-up rounds.
SM-6 leverages the legacy Standard Missile airframe and propulsion elements, while incorporating the advanced signal processing and guidance control capabilities of Raytheon's Advanced Medium-Range Air-to-Air Missile.
Work will be performed in Tucson, Ariz.; Camden, Ark.; Andover, Mass.; Huntsville, Ala.; Dallas, Texas; Hanahan, S.C.; Anniston, Ala.; San Jose, Calif.; and Middletown, Ohio, and is expected to completed by March 2015.
Source: Raytheon Corporation (NYSE: RTN)
Date: May 16, 2012