Raytheon $167 M AIM-9X Block I & II Contract Gives Warfighters Edge

(Tucson, Ariz., June 30, 2009) -- The U.S. Navy awarded Raytheon Company (NYSE: RTN) a $166.9 million contract for Lot 9 production and delivery of the AIM-9X infrared-guided air-to-air missile.

The firm-fixed-price contract will provide the U.S. military and its allies with AIM-9X Block I missiles and introduce into the inventory the new AIM-9X Block II captive air training missile (CATM). The contract will provide more than 250 jobs for Raytheon employees and create work for more than 10 major suppliers in eight states.

"Lot 9 continues to add to the inventory of the very successful Block I while setting the stage for AIM-9X Block II," said Capt. Jeffrey Penfield, the U.S. Navy's air-to-air missile program manager. "The delivery of these CATM rounds is a critical first step in delivering a revolutionary new capability to the warfighter."

Raytheon has delivered more than 3,600 AIM-9X Block I missiles to eight countries and is on contract to deliver missiles to two additional countries. In 2008 the U.S. Navy test fired the first AIM-9X Block II as part of developmental testing.

"By leveraging our experience building the AIM-9X Block I, we plan to begin production of AIM-9X Block II in late 2010," said Dave Adams, Raytheon's AIM-9X program director. "Test after test has demonstrated the reliability of the AIM-9X Block I, and we intend to continue delivering this level of performance to the warfighter with AIM-9X Block II."

Source : General Electric - click here for more information