July 10, 2009
TUCSON, Ariz. -- The U.S. Army selected the Raytheon Company (NYSE: RTN)-Lockheed Martin (NYSE: LMT) Javelin Joint Venture to provide life-cycle contract support for the Javelin anti-tank missile and command launch unit.
The five-year $298.6 million contract has a fiscal year 2009 funded value of $34.9 million. It requires the Javelin Joint Venture to provide the U.S. Army with depot spares, repair support, training and data.
"The Javelin Joint Venture is focused on our customer needs throughout the product life cycle," said Duane Gooden, Raytheon's Javelin program director and president of the Javelin Joint Venture. "We are extending the lifetime of our products through upgrades, while supporting the warfighter with training services and technical support."
Javelin is the world's first man-portable, fire-and-forget, medium-range missile system. The compact, lightweight missile is designed for one-soldier operations in all environments.
"The Javelin life-cycle contract support team continues to provide exceptional support to our warfighters with amazing turnaround time for hardware returned for repair or upgrade," said Barry James, vice president of the Javelin Joint Venture. "The team has been able to coordinate shipments in and out of theater to the repair facility and back to the front line in a matter of days. We are committed to providing world-class focused support to ensure combat readiness."
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.
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 146,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.
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Contract win, Lockheed Martin (NYSE:LMT), Missiles, Raytheon (NYSE:RTN), US Army
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