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Thursday, April 24, 2014

Raytheon Recovering From Missile Delivery Delays, Air Force Says

AIM-120D AMRAAMRaytheon Co. has recovered almost 30 percent of about $621 million withheld by the U.S. Air Force since 2012 because it missed deadlines for delivering missiles.

Raytheon, the world’s largest missile maker, received $179 million of the performance payments that had been held back as of March 5, Ed Gulick, a spokesman for the Air Force, said in an e-mailed statement.

The funds were released under a revised delivery schedule agreed on in December 2012.

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