With the simultaneous turning of multiple shovels, political, tribal and business leaders broke ground for Raytheon Company's (NYSE: RTN) new warehouse on the Navajo Nation near Farmington . Once completed, the 30,000 square foot warehouse at the Raytheon Dine Facility will house all inbound materials and completed projects.
"Raytheon values its long-standing relationship with the Navajo Nation," said Dr. Taylor W. Lawrence , Raytheon Missile Systems president. "The important work done here at Dine provides jobs on the Navajo Nation and helps to preserve freedom around the globe."
Production work at Dine centers on mechanical and electro-mechanical assembly as well as cabling for numerous defense products. The new warehouse will enable Raytheon to increase production efficiency, while reducing risk to materials and products. Design of the new building was funded by the State of New Mexico. The Navajo Nation is funding building construction and will lease it to Raytheon.
"The Navajo Nation has a long and proud tradition of supporting America's warfighters," said Ben Shelly Navajo Nation president. "The partnership between Raytheon and the Navajo Nation is a strong one, and this new warehouse is further evidence of that."
Construction on the $4.4 million warehouse is expected to begin by December with completion scheduled for June 2015 . Raytheon expects to be fully moved into the new building by September of 2015.
During the groundbreaking event, Raytheon also celebrated 25 years at Dine. The company held an open house for employee families and staged a math and science learning event for Navajo students.
Source: Raytheon Corporation (NYSE: RTN)
Date: Oct 7, 2014