Monday, July 12, 2010

Navy Awards $59 Million to Raytheon for Aegis Advanced Procurement

Navy Awards $59 Million to Raytheon for Aegis Advanced Procurement
July 12, 2010

TEWKSBURY, Mass., - The U.S. Navy awarded Raytheon Company (NYSE: RTN) $59.2 million for advanced procurement of critical components of the Aegis weapons system for the next two Arleigh Burke-class destroyers, DDG 114 and DDG 115.

The contract represents the latest chapter of the Navy and Raytheon's 30-year partnership on the Aegis program.

Under the contract, the Navy will receive advanced procurement materials and associated services for the AN/SPY-1D(V) transmitter group and MK99 Mod 8 Fire Control System. Raytheon's radar and fire control system equipment is key to the Aegis weapon system's ability to track and defend against multiple threats, including planes and missiles.

"For three decades, Raytheon has provided highly capable naval radar components and world-class support for Aegis-equipped ships worldwide," said Raytheon Integrated Defense Systems' (IDS) John Kelly, director of Sensor Systems. "This contract validates the quality and effectiveness of our systems and provides an opportunity for us to continue our long history of reliable performance."

Raytheon's AN/SPY-1 radar transmitters and MK99 Fire Control System have been in continual production for 30 years as part of the U.S. Navy's Aegis shipbuilding program. The AN/SPY-1 and the MK99 are currently installed in the U.S. Navy's fleet of Ticonderoga-class cruisers and Arleigh Burke-class destroyers, as well as Japanese Kongo-class destroyers and Spanish F100-class frigates.

This contract follows a recent Aegis program milestone, as Raytheon IDS completed the early delivery of the fourth and final shipset under a 2006 contract. The shipsets from the 2006 contract will support Australia's Hobart-class destroyer program (Air Warfare Destroyer) and Spain's F105-class frigates.

Work on the Aegis program is performed at Raytheon IDS' Surveillance and Sensors Center, Sudbury, Mass.; at the Seapower Capability Center, Portsmouth, R.I.; and at the Integrated Air Defense Center, Andover, Mass.

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