Raytheon Company (NYSE: RTN) is being awarded a $327,146,998 Fixed Price Incentive (firm target) modification to previously awarded contract N00024-14-C-5315 to exercise options for Air and Missile Defense Radar Program (AMDR) Low Rate Initial Production.
"Progressing to production is the result of a lot of hard work and dedication from our AMDR team of experts across Raytheon, the Navy, and our world-class suppliers. In just over three years of the Engineering, Manufacturing and Development phase, we've gone from a technology demonstrator to a technically mature, highly advanced, functioning radar," said Raytheon's Tad Dickenson, director of the Air and Missile Defense Radar program. "Production begins today - which brings us one day closer to delivering this needed, and unprecedented, integrated air and missile defense capability to the Navy."
Raytheon's decades of radar development and manufacturing expertise is driven by proven infrastructure and a highly experienced workforce. The company's 1.4 million square foot production facility in Andover, Mass. is a center of excellence for vertically-integrated, highly complex manufacturing with flexible work flow supporting all phases of product development from testing to full production.
Source: Raytheon Corporation (NYSE: RTN)
Date: May 3, 2017