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Raytheon Wins Potential $316M Standard Missile R&D Contract

RaytheonLogoRaytheon (NYSE: RTN) has won a potential $316, 538, 398 contract to perform research and development work under the Standard Missile program for the U.S. Navy.

The cost-plus-fixed-fee contract includes $75, 914, 110 in base funds and covers other engineering and technical services, the Defense Department said Friday.

The Navy is obligating $33, 065, 387 at the time of award from funding sources such as fiscal year 2013 research, development, test and evaluation; fiscal 2013 defense wide procurement; and weapons procurement for fiscal years 2011 through 2013.

Raytheon will also evaluate designs and systems and aim to proof production for shipboard integration.

Eighty-six percent of the work will occur in Tucson, Ariz. and the rest in five other locations within the continental U.S. within December 2017.

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