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Raytheon Awarded $126M SM-3 Contract

Raytheon logo_EbizRaytheon (NYSE: RTN) has won a $126 million contract modification to procure components for Standard Missile-3 missile production.

The no-bid, cost-plus-incentive-fee contract involve materials good for up to 29 SM-3 Block IB missiles, Raytheon said Thursday.

The SM-3 interceptor destroys incoming ballistic missiles through sheer force of collision.

The Waltham, Mass., company said it has delivered over 150 SM-3s to the U.S. and Japan.

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