Raytheon Company's (NYSE: RTN) all-up-round Standard Missile production facility in Huntsville, Ala., is nearing completion. The state-of-the-art factory, located on the U.S. Army's Redstone Arsenal, should be completed before the end of the year. Once operational, the 70,000 square-foot facility will assemble and test Standard Missile-3 and SM-6 interceptors.
"This factory will be an asset to our nation and the men and women defending freedom around the world," said Dr. Taylor W. Lawrence, Raytheon Missile Systems president. "SM-3 and SM-6 are important parts of the nation's advanced missile defense capability; the new factory will play a critical role in providing a missile defense shield to the nation and our allies in Europe."
The new production facility will feature advanced tools and the latest processes for missile production. The advanced technology will enable Raytheon to streamline processes, reduce costs and add increased value for the warfighter.
The first SM-6 is scheduled to be produced from the new facility in February 2013, and initial SM-3s are scheduled to be delivered the following quarter.
Source: Raytheon Corporation (NYSE: RTN)
Date: Jul 6, 2012