US Army Awards Raytheon $130 M for TOW Missiles

Raytheon Company (NYSE: RTN) received a $129.9 million U.S. Army contract for continued production of the tube-launched, optically-tracked, wireless-guided TOW® weapon system. The award is a modification to Raytheon's existing $320 million production contract.

The TOW weapon system—with the multi-mission TOW 2A , TOW 2B and TOW Bunker Buster missiles—is a long-range precision, heavy anti-tank and assault weapon system that defeats all known armor systems in the world.

"TOW's precision and firepower give U.S. and allied ground troops a significant advantage on the battlefield," said Kim Ernzen, Raytheon Land Warfare Systems vice president. "Worldwide demand for TOW continues to be strong, and we expect to produce and deliver it for many years to come."

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The anti-armor, anti-fortification weapon system combats battlefield threats and gives ground forces an overmatch advantage against armored and wheeled systems, regardless of the environment or conditions.

The TOW weapon system is deployed with more than 20 international armed forces, and integrated on vehicles and helicopters worldwide. Raytheon has delivered more than 690,000 TOW missiles to the Army, U.S. Marine Corps and allied militaries. The system will be in service with the U.S. military through 2050.

Source: Raytheon Corporation (NYSE: RTN)
Date: Jun 12, 2018