A joint venture of Raytheon (NYSE: RTN) and Lockheed Martin (NYSE: LMT) has received a $181.3 million contract from the U.S. Army to manufacture guidance electronics unit hybrid regulators for foreign customers.
Raytheon/Lockheed Martin Javelin JV will produce the regulators for Estonia and the Czech Republic under the foreign military sales program, the Defense Department said Friday.
The company will build the systems in Tucson, Arizona, through Aug. 31, 2018.
Javelin is a shoulder-fired, man-portable, anti-armor system designed to guide itself to the target.
The weapon system also works to support surveillance and situational awareness efforts.
