US Army Awards Raytheon USD15M for Excalibur lb

 The U.S. Army has awarded Raytheon Company (NYSE: RTN) a $15 million contract modification for the procurement of 216 Excalibur Ib rounds.

Excalibur is a 155mm precision-guided, extended-range projectile that uses GPS guidance to provide accurate, first-round effects capability in any environment. By using Excalibur's level of precision, there is a major reduction in the time, cost and logistical burden associated with using other artillery munitions. Analyses have shown it can take 10 to 50 conventional munitions to accomplish what one Excalibur can.

Raytheon is also funding a program to augment its combat-proven 155mm GPS-guided projectile with a laser spot tracker seeker, giving the weapon a dual-mode capability. The company is planning a live-fire demonstration of the "Excalibur-S" early next year.

Excalibur is a cooperative program between Raytheon and BAE Systems Bofors AB.

Source: Raytheon Corporation (NYSE: RTN)
Date: Dec 22, 2013