Raytheon receives $31 M Maverick missile contract from South Korea

Raytheon Company (NYSE: RTN) was awarded a $31 million contract from the Korean Defense Acquisition Program Administration for additional AGM-65G-2 Maverick missiles. Under the direct commercial sale, Raytheon will supply the missiles to the Republic of Korea Air Force.

"These new Mavericks will provide the Republic of Korea Air Force with additional firepower and will add to South Korea's existing inventory," said Jack Roosa, Raytheon Missile Systems Maverick program director.  "Raytheon remains committed to delivering superior weapons that support the mission of our allies and enhance their capability."

About Maverick
Maverick is a versatile precision-guided missile that is effective against a wide variety of fixed, stationary, moving and maneuvering targets both on land and sea. With more than 7,800 launched in combat, Maverick is employed by the United States Air Force, Navy, Marine Corps, and allied nations on more than 25 types of aircraft.

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Maverick features two warhead options: 300 lb blast fragmentation or 125 lb shaped charge. The three seeker choices of CCD (TV), infrared and laser enable warfighters to conduct around-the-clock operations.

Source: Raytheon Corporation (NYSE: RTN)
Date: Feb 11, 2014