Wednesday, September 9, 2009

Raytheon Awarded $19 Million Contract for Lightweight Torpedoes

Raytheon Awarded $19 Million Contract for Lightweight Torpedoes
September 9, 2009

TEWKSBURY, Mass. -- Raytheon Company (NYSE: RTN) has received a $19.3 million U.S. Navy contract to provide MK54 lightweight torpedo hardware.

With this award, Raytheon Integrated Defense Systems (IDS) is under contract to deliver 241 MK54 kits, of which 100 kits will be delivered to the Turkish Navy via a Foreign Military Sales agreement.

"We are working with our Navy customer and advancing the reliability and effectiveness of both light and heavyweight torpedoes," said Charles "Tom" Bush, IDS' vice president of Seapower Capability Systems. "Our dedication to quality and execution stems from our commitment to deliver the most capable undersea warfare weapons to the U.S. Navy and naval fleets around the world."

Raytheon IDS is the U.S. Navy's sole production supplier for light and heavyweight torpedoes. The company works directly with the Navy to meet the torpedo requirements of U.S. and allied fleets.

Together, the Navy and Raytheon have formed a total enterprise partnership, Team Torpedo, dedicated to the design and production of the world's most capable torpedoes. Raytheon's Team Torpedo combines manufacturing, design engineering, and support services expertise with the systems engineering and testing capabilities of Naval Undersea Warfare Center (NUWC) operations in Newport, R.I., and Keyport, Wash.

Work on the contracts will be performed at Raytheon's Torpedo and Readiness Center, co-located with the U.S. Navy at NUWC Division Keyport, Wash., and at the Seapower Capability Center, Portsmouth, R.I.

Integrated Defense Systems is Raytheon's leader in Global Capabilities Integration, providing affordable, integrated solutions to a broad international and domestic customer base, including the U.S. Missile Defense Agency, the U.S. Armed Forces and the Department of Homeland Security.

Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

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