Raytheon Wins $534M AIM-120 Missile Contract, Foreign Sales Included

Raytheon-logo_EbizRaytheon (NYSE: RTN) has won a $534, 795, 962 firm-fixed-price contract to produce air-to-air missiles with nearly half of the production slated for foreign military sales agreements.

Oman and Saudi Arabia are purchasing the AIM-120 C7 missiles under the contract, which covers production lot 27, the Defense Department said Friday.

Thirty-six countries have acquired the AIM-120 and the missile has been used during combat in Iraq, Bosnia and Kosovo, according to Raytheon.

Singapore also plans to purchase 100 of the missiles under a separate $210 million foreign military sales agreement announced in April.

Raytheon, ATK (NYSE: ATK), Honeywell (HON) and ITT (NYSE: ITT) are the prime contractors for that sale.

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