Raytheon Wins Potential $42M Navy Missile Engineering Contract

Raytheon Co. (NYSE: RTN) won a potential $42, 043, 432 U.S. Navy contract to provide missile engineering and technical services, the Defense Department announced Friday.

The Cambridge, Mass.-based missile maker  will evaluate missile configurations and technology efforts with potential for standard missile development programs.

The cost-plus-fixed-fee contract has a base value of $22, 194, 889.

Eighty percent of work will occur in Tucson, Ariz. and the rest will be in Camden, Ark. and Andover, Mass.

The Pentagon expects work to finish in January 2013 and the Naval Sea Systems Command in Washington is the contracting activity.

Earlier this week, Raytheon won a $79.2 million Army contract to develop a system for detecting incoming rockets.

The company will demonstrate the system in 18 months and begin low rate initial production upon successful completion of the demonstration.

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