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Raytheon Gets $346M Missile Contract |
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Posted 15 March 2006 @ 07:50 pm EET |
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TUSCAN (AP) - Raytheon Co., maker of defense and communication equipment, on Wednesday said it has received a $346 million contract with the U.S. and U.K Navy for its Tomahawk cruise missile.
The order is the third installment of a multiyear contract which could be worth up to $1.6 billion.
The fiscal 2006 production contract includes 473 missiles, including 65 submarine torpedo tube-launched type of Block IV Tomahawk.
Raytheon will manufacture the missiles at its plants in Tucson, Ariz., and Camden, Ark., and expects to complete work in 2009.
Raytheon began delivering missiles to the U.S. Navy in 2004.
Shares of Raytheon fell 9 cents to $44.95 during midday trading on the New York Stock Exchange
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Copyright 2006 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. |
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