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Thursday, March 31, 2011

Raytheon gets $313 million pact for missile interceptor

SM-3Tucson-based Raytheon Missile Systems has won a $313 million contract for a next-generation missile interceptor that is a key part of a planned missile shield for Europe.

The contract from the U.S. Missile Defense Agency provides funding to complete the development phase for the Standard Missile-3 Block IB program and deliver 24 developmental missile rounds to the agency, said Wes Kremer, SM-3 program director for Raytheon.

The contract is a milestone on the way to the first SM-3 Block IB flight test, expected later this year.

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