Raytheon Receives $13 M in Army Contracts for Patriot Missile Facility Support
(Tewksbury, Mass., April 13, 2007) -- Raytheon Company (NYSE:RTN) received two contract modifications totaling $13 million from the U.S. Army Aviation and Missile Command to continue to provide technical and material support of the Patriot Missile Field Surveillance program in the United States and at overseas locations.
The contract modifications, which include options for up to $12 million, call for Raytheon to provide technical personnel and material to support the processing of Patriot missile rounds and the operation of the Patriot missile facilities, missile assembly/disassembly facilities and the Patriot missile transmitter facility. The modifications exercise $13 million in options for 2007 against the basic 2005-2006 contract award that now totals $43 million.
"It is very important to our country and our allies that our Patriot air and missile defense system facilities are in an optimal state of readiness to ensure that when our Patriot systems are needed, they provide premier air and missile defense capabilities," said Pete Franklin, vice president for Integrated Air and Missile Defense, Raytheon Integrated Defense Systems. "This effort reflects the continued commitment by the Army and Raytheon to ensure our Patriot missiles continue to provide our warfighters with a cost- effective, premier, no doubt air defense capability."
Source : Raytheon
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