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Raytheon Wins $394M for SM-3 Design, Engineering

The U.S.Missile Defense Agency has awarded Raytheon‘s (NYSE: RTN) missile systems business unit a $394, 464, 055 contract modification, according to a Defense Department announcent.

The modification brings the total contract value to $688, 966, 325.

Under the contract, Raytheon will provide standard missile-3 design and engineering support through Sept. 30, 2015. Raytheon is expected to deliver more than130 of the missiles to U.S and Japanese naval forces by 2018, according to the company’s website.

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