Raytheon Wins $331M For Navy Tomahawk Cruise Missiles

Raytheon (NYSE: RTN) has won a $337,840,145 contract to provide the U.S. Navy with 361 cruise missiles, the Defense Department announced Thursday.

The Waltham-Mass.-based missile manufacturer will deliver 238 vertical launch system missiles and 123 capsule launch system missiles by August 2014.

Surface ships will use the Tomahawk Block IV All-Up-Round missiles with the vertical system and submarines will use the Tomahawks with the capsule system.

The Naval Air Systems Command in Patuxent River, Md. is the contracting activity for the firm-fixed-price contract.

In December, the company received an estimated $209 million modification from the Navy to provide 196 Tomahawks, with 132 going to surface ships and 64 going to submarines.

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