Raytheon to Update Navy SATCOM Network on Potential $979M Award

Raytheon (NYSE: RTN) has won a $19, 861, 994 U.S. Navy contract modification to update the Navy’s military satellite communications terminal, the Defense Department announced Tuesday.

The contract is potentially worth $979, 752, 906 if all options are exercised.

Six percent of the funds will support foreign military sales to Canada, the Netherlands and the U.K.

Raytheon will perform work in Largo, Fla. and Marlborough, Mass.

The Pentagon expects work to complete by March 2014.

If all options are exercised, Raytheon could continue work until December 2015.

The Space and Naval Warfare Systems Command in San Diego is the contracting activity.

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