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Navy Awards Raytheon $180M for Joint Standoff Missile Production


Raytheon logoRaytheon (NYSE: RTN) has been awarded a $180.4 million contract to build Unitary Joint Standoff Weapon missiles and related equipment and support services for the U.S. Navy and the Saudi Arabian military.

The contract covers full-rate production of 200 AGM-154C-1 JSOWs for the U.S. and another 355 AGM-154 Block III C missiles for Saudi Arabia, the Defense Department said Friday.

Ninety percent of the work will occur in Tucson, Arizona, and in Dallas and the remaining 10 percent in McAlester, Oklahoma.

The U.S. Navy is obligating $57.7 million at the time of award from the military branch’s fiscal 2015 weapons procurement funds and $122.7 million from the branch’s foreign military sales funds.

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