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Tuesday, December 18, 2012

Raytheon awarded $108 million for SM-2 production

SM-2 |The U.S. Navy awarded Raytheon Company a $108 million contract for continued production of Standard Missile-2 all-up rounds, a majority of which will be sold to U.S. allies through foreign military sales.

This award brings the total fiscal year 2011 contract value to more than $200 million.

"The U.S. Navy has committed to supporting SM-2 past 2035, and this contract award reflects our international partners' desire to maintain this key defensive asset in their inventories," said Michael Campisi, Raytheon Missile Systems' senior director for SM-2 and SM-6 production.

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