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Tuesday, October 18, 2011

Raytheon Awarded $42 Million for Lightweight Torpedoes

Mark 54 MAKO Lightweight TorpedoRaytheon Company has been awarded a $42.6 million U.S. Navy contract to provide MK54 lightweight torpedo hardware. Under the contract, Raytheon Integrated Defense Systems (IDS) will deliver a total of 100 MK54 kits for U.S. fleet inventory and in support of foreign military sales.

This award includes options for additional quantities for both domestic and international assets. Total contract value, if all options are exercised, could exceed $550 million over five years.

"Together with the Navy customer, we will leverage our collective expertise to continue to advance the reliability and effectiveness of the MK54 torpedo," said Kevin Peppe, IDS' vice president of Seapower Capability Systems. "Our dedication to quality and execution stems from our commitment to our customer – to deliver the most affordable and effective undersea weapons to naval fleets around the world."

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