Hello, Guest!
  • Friday, November 22, 2024

Raytheon Lands $524M SM-3 Block IB Missile Contract Option

SM-3-Block-IIAThe Missile Defense Agency has awarded Raytheon (NYSE: RTN) a $524 million contract option to produce, test and deliver up to 52 Standard Missile-3 Block IB weapon systems to MDA.

It represents the first of three option years under a potential $2.3 billion contract modification announced on Dec. 18 last year, the Defense Department said Tuesday.

MDA obligated $513 million in fiscal year 2016 DoD-wide procurement funds and $11 million in foreign military sales funds at the time of award of the option.

Raytheon’s missile systems business will perform contract work in Tucson, Arizona and in Huntsville, Alabama and is scheduled to finish by Sept. 30, 2021.

SM-3 defense weapons are designed to intercept short- to intermediate-range ballistic missile targets in space with an exoatmospheric “kill vehicle, ” according to Raytheon.

Video of the Day

Related Articles

RTX Books $344M Standard Missile Production Contract Contract Awards

RTX Books $344M Standard Missile Production Contract

Raytheon, a subsidiary of RTX (NYSE: RTX), has received a $344 million contract to build and deliver two Standard Missile variants with a common guidance section to U.S. and international military customers. The company said Thursday it will produce the SM-2 Block IIICU and SM-6 Block IU missiles on a common production line for the

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted M&A Activity

VTG Acquires Digital Transformation Services Provider Vana Solutions; John Hassoun Quoted

VTG has moved to expand its portfolio of digital transformation platforms and cloud services for defense and intelligence community customers through its acquisition of Vana Solutions. Vana Solutions is a Dayton, Ohio-based company founded by Srujal Sheth and Sunit Sheth in 2005 and is focused on delivering cloud services, advanced analytics, data fabric platforms and

Kristen McLeod Promoted to Calibre Systems EVP, CFO Executive Moves

Kristen McLeod Promoted to Calibre Systems EVP, CFO

Kristen McLeod, most recently senior vice president of finance and accounting and controller at Calibre Systems, has assumed the roles of executive VP and chief financial officer at the Alexandria, Virginia-based management consulting and digital transformation company. In this capacity, she will serve as a corporate officer and fiscal strategist and continue to offer insights