Raytheon awarded $57.8 M Phalanx Contract

The U.S. Navy awarded Raytheon Company (NYSE: RTN) a contract totaling $57.8 million to overhaul and upgrade nine Phalanx Close-In Weapon Systems, and manufacture two SeaRAM anti-ship missile defense systems. The agreement also includes the purchase of 20 radar upgrade kits.

"Raytheon tailors our ship self-defense systems to meet our customers' requirements," said Rick Nelson, vice president of Raytheon Missile Systems' Naval Weapon Systems product line. "Phalanx and SeaRAM are layered defense solutions that lead the world in scalable technology, while providing unparalleled protection."

Close-in Defense Solutions
Phalanx is a rapid-fire, computer-controlled radar and 20 mm gun system that automatically acquires, tracks and destroys enemy threats that have penetrated all other ship defense systems. More than 890 systems have been built and deployed in the navies of 25 nations.

Intended to enlarge Phalanx's keep-out range against evolving anti-ship missiles, rotary- and fixed-wing aircraft and other threats, SeaRAM uses advanced Phalanx Block 1B sensors and replaces the gun with an 11-round Rolling Airframe Missile guide. SeaRAM is aboard the USS Independence (LCS 2) and USS Coronado (LCS 4), and will soon be in the Japan Maritime Self-Defense Force.

Source: Raytheon Corporation (NYSE: RTN)
Date: May 18, 2012