Raytheon Company (RTN) said it has received a $528 million fixed-price incentive, firm target contract modification for Advanced Medium Range Air-to-Air Missiles or AMRAAM. Raytheon will provide AMRAAM Lot 29 missiles and other AMRAAM system items. This contract involves foreign military sales.
The company also said it received a $91.5 million U.S. Air Force contract modification award for the Miniature Air Launched Decoy Jammer or MALD-J missile. This contract modification is for Lot 8.
The company said that Work for both contracts will be performed in Tucson and is expected to be complete by January 2018 and June 2017 respectfully.
Raytheon added that it was awarded $109 million by the U.S. Navy to purchase the long-lead materials needed to meet Standard Missile-6 full-rate production requirements and Standard Missile-2 sustainment. This award was booked in the first quarter 2015.
The SM-6 deployed for the first time in 2013, and Raytheon has delivered more than 160 missiles. The missile's final assembly takes place at Raytheon's state-of-the-art SM-6 and SM-3 all-up-round production facility at Redstone Arsenal in Huntsville, Ala.
Further, the company signed a $35 million contract to deliver Stringer missiles and air-to-air launchers to the Republic of Korea Army in support of their recent procurement of AH-64 Apache helicopters.
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