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Raytheon Wins More SM-3 Work, Contract Value Now $809M

Raytheon Co. (NYSE: RTN) has won a $120 million contract modification to continue design and engineering work for the U.S. Missile Defense Agency, the Defense Department announced Wednesday.

The MDA increased the contract’s total value from $688, 966, 325 to $808, 966, 325 for work on the ship-based Standard Missile 3.

The Waltham, Mass.-based missile maker won an estimated $364 million modification in December for SM-3 design and engineering.

The company’s missile systems unit will continue to support surveillance and flight test and Raytheon will help the agency transition the missiles to production.

Work will occur in Tucson, Ariz. and the performance period runs through Sept. 30, 2015.

This modification receives funds through fiscal year 2012 research, development, test and evaluation funds.

The MDA in Dahlgren, Va. is the contracting activity.

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