Raytheon awarded $365 million U.S. Navy contract

TEWKSBURY, Mass., June 3, 2016 /PRNewswire/ -- Raytheon Company (NYSE: RTN) has been awarded a $365,848,801 fixed-price-incentive, cost-plus-fixed-fee contract for the production of Aegis Weapon System AN/SPY-1D(V) Radar Transmitter Group, Missile Fire Control System MK 99 equipment, and associated engineering services.

This contract includes options which, if exercised, would bring the cumulative value of this contract to $423,056,873. This contract combines purchases for the U.S. Navy and the governments of the Republic of Korea and Japan under the Foreign Military Sales program. This contract was previously announced by the Department of Defense on May 27, 2016.

Work will be performed in Andover, Massachusetts (78.3 percent); Marlborough, Massachusetts (19.3 percent); Waterloo, Ontario, Canada (1 percent); Moorestown, New Jersey (0.9 percent); and Chesapeake, Virginia (0.5 percent), and is expected to be completed by October 2022.

Raytheon Co., Integrated Defense Systems, Marlborough, Massachusetts, Fiscal 2016 shipbuilding and conversion (Navy); and foreign military sales funding in the amount of $365,848,801 will be obligated at the time of award and contract funds will not expire at the end of the current fiscal year.

This contract was not competitively procured in accordance with 10 U.S. Code 2304 (c)(4). The Naval Sea Systems Command, Washington, District of Columbia, is the contracting activity (N00024-16-C-5144).

About Raytheon

Raytheon Company, with 2015 sales of $23 billion and 61,000 employees, is a technology and innovation leader specializing in defense, civil government and cybersecurity solutions. With a history of innovation spanning 94 years, Raytheon provides state-of-the-art electronics, mission systems integration, C5I™ products and services, sensing, effects, and mission support for customers in more than 80 countries. Raytheon is headquartered in Waltham, Mass. Visit us at www.raytheon.com and follow us on Twitter @Raytheon.

Media Contact Carolyn Beaudry +1.401.842.3550 [email protected]

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SOURCE Raytheon Company