Author: Matthew Nelson|| Date Published: August 22, 2019
Raytheon (NYSE: RTN) has secured a $190.5M contract modification from the U.S. Navy to obtain the remaining materials needed to produce lots 1 through 3 of Block 2 Evolved Sea Sparrow Missile system. The company will also provide spare parts to address fiscal 2019 low-rate initial production requirements under the ESSM program, the Department of Defense said Wednesday.
The service branch initially awarded a $32.1M contract last year to fund the procurement of long-lead materials for the Block 2 configuration. Work is scheduled to occur through March 2023 in various locations.
The Navy developed ESSM with members of the NATO SEASPARROW consortium to defend vessels against anti-ship missile threats in a naval environment.
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