Raytheon UK has won a £25 million contract from the UK MOD for further Paveway™ IV precision-guided bombs. This latest contract will adhere to the accelerated delivery timeframe of two previous orders, placed over the last year, totaling nearly £80 million.
Bob Delorge, chief executive Raytheon UK, commented: "The Paveway IV is well recognized as being the RAF's precision-guided bomb of choice, with accuracy, flexibility, and reliability being some of the key characteristics of the system. The Paveway IV weapon system has proved itself pivotal to operations in Afghanistan and also in Libya. This contract will help sustain hundreds of highly skilled staff in Raytheon as well as our UK-based partners while delivering an outstanding operational capability."
Source: Raytheon Corporation (NYSE: RTN)
Date: Dec 4, 2012