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ITT Soars with Air Force Deal; Raytheon Snaps Up Dual Navy Contracts

According to the Department of Defense, “ITT (NYSE: ITT) was awarded a maximum $74, 628, 309 contract modification, which will provide a space life range systems contract extension for one base year, which is Nov. 1, 2010 through Oct. 31, 2011; two six-month options (Nov. 1. 2011 through April 30, 2012; or May 1 through Oct. 31, 2012).  At this time, $23, 295, 379 has been obligated.  SMC SLG/PK, Peterson Air Force Base, Colo., is the contracting activity (F04701-01-C-0001; P00693).

“Raytheon (NYSE: RTN) is being awarded a $17, 655, 028 fixed-price contract for two refurbished and upgraded rolling airframe missile (RAM) MK 49 Mod 3 guided missile launch systems (GMLS) with associated hardware for LPD-26 and one new Mod 3 GMLS for Egyptian fast missile craft.  The RAM MK 31 guided missile weapon system (GMWS) is a NATO cooperative development and production program between the participating governments (PGs) of the United States and Germany, developed in response to the need for an anti-ship missile (ASM) defense system. The MK 31 GMWS is comprised of the MK 44 guided missile round pack and the MK 49 GMLS.  The PGs operate under a memorandum of understanding which establishes business principles for program execution along with contracting and financial agreements for the RAM Program. The contract includes options which, if exercised, would bring the cumulative value of this contract to $32, 831, 780. This contract combines purchases for the U.S. Navy (37.1 percent) and the government of Egypt (62.9 percent) under the Foreign Military Sales program. Work will be performed in Tucson, Ariz., and is expected to be completed by January 2013.  Contract funds will not expire at the end of the current fiscal year.  This contract was not competitively procured.  The Naval Sea Systems Command, Washington, D.C., is the contracting activity (N00024-11-C-2404).

“Raytheon is also being awarded a $7, 122, 028 cost-plus-fixed-fee contract for the procurement of long-lead-time materials in support of LPD 26 integrated shipboard electronics.  Work will be performed in San Diego, Calif., and is expected to be completed by March 2012. Contract funds will not expire at the end of the current fiscal year.  This contract was not competitively procured.  The Naval Sea Systems Command, Washington, D.C., is the contracting activity (N00024-11-C-2404).”

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