Raytheon wins US Army IDIQ contract award

 

The U.S. Army Contracting Command – Warren recently awarded Raytheon Company (NYSE: RTN) the TACOM Strategic Service Solutions (TS3) indefinite delivery/indefinite quantity (IDIQ) contract. The five-year multiple-award vehicle has a ceiling value of $634 million .

The agreement covers future work on sensors, fire control systems, active protection systems, and robotics and autonomous systems for a variety of U.S. Army platforms.

"This contract award represents a major milestone in Raytheon's efforts to deliver vehicle-borne sensors and effectors," said Tom Bussing , vice president of Raytheon's Advanced Missile Systems product line. "Our customer is one of the Army's largest weapon systems research, development and sustainment organizations as well as the center of excellence for the Defense Department in the area of ground vehicles and ground robotics."

This is the first such contract awarded by the Contracting Command to Raytheon Company as a prime contractor. The TS3 contract will be managed in the Raytheon IDIQ Service Center to ensure efficiency and contract optimization by the entire company and its teammates. It is anticipated the majority of the task orders will be performed by Raytheon's Missile Systems business in Tucson .

Source: Raytheon Corporation (NYSE: RTN)
Date: Jul 1, 2015